Bengaluru, June 2024’

The 3rd Edition of the India Global Innovation Connect (IGIC) 2024 concluded in Bengaluru today with global and domestic industry leaders Outlining Technology, Skilling and Innovation as focus areas for Government, Industry and Startups to bring about transformative changes in the coming years. The invite-only event attracted more than 400 attendees, featuring an impressive lineup of leaders engaging on a range of industry topics.

The 2^ndday of IGIC 2024 witnessed key industry leaders from Indian and global startup founders, VC’s and investors, corporate and government leaders, technology and public policy experts under one common platform. The leaders and industry experts engaged with attendees in a range of keynotes and panel discussions including,The new technology trends on the horizon, Biotech and Genomics: Navigating turbulences and seizing opportunities, Managing the opportunities and challenges of the changing deep tech ecosystem, Making intelligent use of intelligent technologies,Cracking the code on scaling up: Listening to those who did it, Learning from 2023: The trends shaping the evolution of VC/startup ecosystems and their implications, Building the champions of the AI revolution, among others.

Quotes from key industry leaders on Day 2 of India Global Innovation Connect (IGIC) 2024:

Amitabh Kant, G20 Sherpa, India, said, “There is an urgent need to bridge the gap between industry demands and the available talent pool and ramp-up the skilled engineers pool in India, particularly in areas where there is a high demand, such as artificial intelligence, machine learning, data science, and cybersecurity. The curriculum of many of these engineering colleges and our IITs needs to be totally reoriented and restructured to align with the demands of today, to address the supply chain issue. The next 5 years of the Government will focus will on skilling and apprenticeship to create a vast number of new jobs.”

Claude Smadja, Chairman, Smadja & Smadja Strategic Advisory, said,“The successful conclusion of the 3rd Edition of the India Global Innovation Connect (IGIC) 2024 signifies a major milestone in promoting global collaboration among emerging nations within the digital and startup ecosystems. Over the past two days, we have seen experts from across several countries deliberate in an exchange of ideasand insights on technology trends, biotech, deep tech, innovation, the startup ecosystem and AI, among other topics. Given the enthusiastic response, we are confident that we will continue to build on this momentum for IGIC 2025."

Soumitra Dutta, Dean and Professor of Management, Saïd Business School, Oxford University, Chair, OECD Taskforce of Experts on AI, UK, said, “In India, we are currently at a fortunate moment where the country is benefiting from several years of favourable economic policies. Among students and youth, we are seeing a renewed enthusiasm for technology, innovation, and entrepreneurship and there is energy and hunger around entrepreneurship. The brand of India has changed today and there is a significant transformation in India's image and is now being recognized for its software programmers and genius talent pool.”

Shubhankar Bhattacharya, General Partner, Foundamental, Germany, said, “When it comes to picking a space or a business idea, it's important to consider a business which has the potential to scale up, while the idea must be a non-obvious one. A particularly good predictor for the likelihood of a business becoming a good public company is the willingness of the founder to be very detailed with bookkeeping. In our experience, having an uncomfortable conversation with potential founders even before they invest in the business is a predictor of success and business health. It's a sign that the founders are also prepared for the worst.”

David Passig, Futurist, Professor Bar-Ilan University (BIU), Member Israel National Council for Research & Development, Israel, said “We are at a point where we are generating an immense amount of data every second, and we are attempting to use this data to understand and mimic how our minds work. We are stepping into a century of mind technologies and a deeper understanding of the mind. By understanding our past, projecting into the future, we can bring this awareness into the present to alter our behavior and pave the way for a better future.”

Darshan H.V., IAS Managing Director, Department of Electronics, Information Technology Biotechnology and Science & Technology, Government of Karnataka, said “Technology is the future, and supporting entrepreneurs and startups, to use technology as a tool for innovation and development is crucial for growth. Karnataka has always been a pioneer in R&D, fostering close coordination between industry and academia. With partners such as KDEM and other industry associations, the Government of Karnataka has facilitated significant strides in technological innovation especially in the fields of biotechnology and genomics.  The state government promotes Research and Developmental activities, especially in niche areas of Biotechnology, through IBAB (Institute of Bioinformatics and Applied Biotechnology), CHG (Centre for Human Genetics) and BBC (Bangalore Bio Innovation Centre). Karnataka govt has also come up with a dedicated space for Biotechnology startups and companies in Southern Bengaluru. Moreover, continuous discussions and consultations with industry and academia ensure that the government's actions are aligned with the sector's needs.”

The IGIC mission is to expand and deepen the technology and business interaction and synergies between India’s ecosystems and a number of foreign ecosystems, to identify and assess new opportunities created by the fast evolution of disruptive technologies and to explore new opportunities for business partnerships.

Building on the success of its previous two editions in 2022 and 2023, IGIC 2024 is being convened by global strategic advisory firm Smadja & Smadja with Karnataka Digital Economy Mission as a strategic partner of IGIC which also benefitsfrom the official support and involvement of government and business organizations such as Swissnex, Japan External Trade Organization (JETRO) German Entrepreneurship, French Tech India and Business France, Enterprise Singapore, etc.

The key partners associated with India Global Innovation Connect 2024 include: Founding Sponsor - Tata Digital Private Limited; Strategic Partner – Karnataka Digital Economy Mission; Sponsor – Axilor Ventures; WizFreight; Knowledge Partners – Covington & Burling, Swissnex; Partner Organizations – Japan External Trade Organization, Start2 Group; Enterprise Singapore; French Tech India; Business France.