Latest news with #MamathaVenkatesh
Business Standard
a day ago
- Business
- Business Standard
Indigenisation Startup Venttup Launches India's Manufacturing Growth Story Whitepaper at Kerala Innovation Festival
NewsVoir Mumbai (Maharashtra) / Bengaluru (Karnataka) [India], July 29: Venttup, a pioneering B2B manufacturing startup focused on driving indigenisation & new part development across industries has launched a whitepaper titled 'Building India's manufacturing momentum,' at the Kerala Innovation Festival. The whitepaper was launched by the Venttup team during the Kerala Innovation Festival in Kochi, in the presence of distinguished industry leaders, policymakers, professors, and mentors. The first copy of the whitepaper was ceremoniously handed over to esteemed guests, including Ms. Mamatha Venkatesh, Head of Start-up India; Dr. Lida Jacob IAS; Mr. Sridhar Radhakrishnan, Steering Committee Member of ASHA-Kisan Swaraj; Mr. Suresh Krishna, Co-Founder & CEO of the Yunus Foundation; Mr. Joseph Martin, CEO , Geojit-CUSAT Centre for Sustainability Studies; Mr. Jayaraman Chillayil, Managing Director of Equinoct; and Dr. Abhilash Sukumarapillai, Director of the Advanced Centre for Atmospheric Radar Research. Venttup, founded by industry veterans with extensive experience at Hitachi Energy, Siemens Energy, L & T, and Kalpataru Power, Sandeep Nair (Co-founder & CEO), M. Wasim Ankli (Co-founder & COO), and Joseph Panakkal (Co-founder & CMO), the whitepaper examines a substantive body of work, and has inputs from industry experts and founders in the manufacturing trenches to validate the findings. Venttup is built on the principles of localization and sustainability. It assists large and medium enterprises in outsourcing their engineering needs by leveraging India's manufacturing expertise to develop high-quality, locally sourced components - from prototype to mass production. Venttup offers localized production of critical engineering solutions and highly customized, complex mechanical, electrical, and electronic components across the Energy, EV, Aerospace, and Defense sectors, driving India's manufacturing industry toward self-reliance and sustainable growth. The company is building a unified platform for global buyers to source high-quality, reliable, and sustainable components from India. Commenting on the launch of whitepaper, Sanddep Nair, Co-founder & CEO, Venttup says, "India's manufacturing ecosystem is dotted with millions of MSMEs who are the backbone of this sector. However, due to their lack of skills in end to end project management, cash flow limitations, R & D and lack of understanding the latest tech capabilities, the growth of this sector has remained slow. The govt has been rolling out pro manufacturing policies but there is an urgent need for the private sector to partner with the govt and other key stakeholders to build India into a global manufacturing hub across high growth industries. With this whitepaper, we have attempted to highlight the strength areas where India has the leverage, manpower and the know-how to grow into a strong manufacturing destination for global buyers and provided recommendations on how this shift can be accelerated with the help of technology." Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, says, "We have been big believers in India's talent and capabilities to transform itself into a manufacturing destination for the world. Our investments in Venttup and engineering driven startups is a testament to our strong belief in India's emergence as a strong alternative to China in manufacturing. We strongly advocate that there is a need for developing manufacturing clusters within India as we take strategic steps to spotlight the prowess of India's manufacturing landscape. The key findings of the whitepaper include, emergence of MaaS companies, increasing preference of global aeronautical companies to establish manufacturing base in India and China + 1 strategy that is driving the smart manufacturing wave by integrating MSMEs into the ecosystem at a scalable level." Manufacturing as a Service The advent of cloud manufacturing or MaaS has the potential to bring global buyers to Indian MSMEs. Currently, MSMEs contribute 45% of the country's exports. However, most of the MSME led manufacturing establishments employ minimal workforce and use obsolete machinery, they lack project management, lack of tech integration in workflows lead to losing out on valuable projects and limits MSMEs capabilities to focus on strategic issues. At times, capacity remains under-utilised leading to limited order pipeline. On the other hand, global buyers lack the expertise and network to source from the vast MSMEs. MaaS companies are filling this gap by becoming a much needed bridge between global buyers and Indian MSMEs. India becoming an emerging hub for aircraft components India is set to become a global hub for aircraft components manufacturing with a market size of $29.5 billion by 2033. Driven by govt initiatives like Make in India and Atmanirbhar Bharat, many SMEs are looking to invest in skilled manufacturing such as precision engineering, composite materials and semiconductors design and manufacturing. Global majors like Airbus and Boeing have announced partnerships with Mahindra and Tata to set up manufacturing operations in India. Indian PM Narendra Modi has presented a strong pitch to position India as a global hub for MRO with an aim to become a $4 billion MRO hub by 2030. Conducive policy environment India is taking all the right steps to accelerate the manufacturing sector's growth. Pro manufacturing policies like PLI have played a role in incentivising domestic manufacturing and have made India an attractive destination for global manufacturing giants. This shift is also a part of the global de-risking strategy of China + 1 post the pandemic. Recommendations India is in the right place at the right time to build itself into a position of strength in manufacturing. Given the country's prowess in tech led services and adoption of tech in every aspect, India with its demographic dividend has an edge in presenting itself as a hub for intelligent manufacturing, IoT, robotics, advances in AI and Quantum Computing. This will lead to India becoming a knowledge enabled manufacturing industry where innovation will be the key differentiator. Supplier ecosystem and strategic manufacturing corridor: India must focus on building sector specific industrial clusters that support end to end manufacturing for high growth industries like Energy, EV, semiconductors and precision engineering. These clusters should encourage co-location of suppliers, logistics providers and manufacturers. Workforce development: India must revamp its ITIs, modernising curriculum to align with current and future industry demands. Structured apprenticeship programs, PPP should be encouraged to establish CoE focused on critical skill development areas like robotics, CNC operations and smart manufacturing technologies. Acceleration adoption of Industry 4.0 technologies: This can be achieved by offering targeted subsidies and tax incentives to encourage MSMEs to invest in automation, data analytics and digital tools. India also needs to strengthen its R & D ecosystem. Currently, India spends mere 0.7% of its GDP in R & D while China spends 2.4%. With the help of ongoing govt policy push, PPP, and adoption of smart manufacturing, this investment should grow for India to truly claim its global position of top tier manufacturing hub for the World.
Entrepreneur
4 days ago
- Business
- Entrepreneur
Centre to Plan More Seed Funds & Incubation Centres: Startup India head
Speaking at the inauguration of the Kerala Innovation Festival (KIF) organised by the Kerala Startup Mission (KSUM) in Kalamassery, Venkatesh noted that these efforts go beyond the financial support provided by the IT Ministry. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The central government is ramping up efforts to strengthen seed funding and expand incubation centres to foster the startup ecosystem across the country, said Mamatha Venkatesh, Head of Startup India, during an event in Kochi on Friday. Speaking at the inauguration of the Kerala Innovation Festival (KIF) organised by the Kerala Startup Mission (KSUM) in Kalamassery, Venkatesh noted that these efforts go beyond the financial support provided by the IT Ministry. She added that startups from various sectors could also access assistance from other government departments. Describing Kerala's startup ecosystem as the "most vibrant" in India, she pointed out that the state achieved 100 per cent registration under the Startup India programme. She urged entrepreneurs to leverage central government initiatives such as the Government e-Marketplace (GeM), the INR 1 lakh crore Fund of Funds, and the Credit Guarantee Scheme. She also highlighted the encouraging statistic that 48 per cent of startups in the country are founded or co-founded by women. State Planning Board member Mini Sukumaran acknowledged that women's participation in the workforce remains low, despite increasing enrolment of girls in higher education across Kerala. She stressed the need to bridge this gap and said the state government is working urgently on it. The Planning Board has proposed several recommendations to make the gender budget more impactful, she added. KSUM CEO Anoop Ambika said the agency is introducing more initiatives to support angel funding for early-stage startups. "Kerala currently has four angel networks, and the success of more startup ecosystems will attract further interest from angel investors," he said. The Kerala Innovation Festival features over 100 participants from sectors such as film, music, technology, fintech, and social entrepreneurship. This two-day event celebrated a decade of the Kerala Startup Mission, which was launched with the Technology Startup Policy in 2015.
New Indian Express
4 days ago
- Business
- New Indian Express
Startup India identifies Wayanad as next startup hub in Kerala
KOCHI: Startup India, the flagship initiative of the Central government to build a strong and inclusive ecosystem for innovation and entrepreneurship in the country, aims to establish Wayanad as the next startup hub in the state. This was disclosed by Mamatha Venkatesh, head of Startup India, on the sidelines of the Kerala Innovation Festival organised by the Kerala Startup Mission (KSUM) in Kochi on Friday. The decision to identify Wayanad comes after the district was named in the Central government's Aspirational Districts Programme (ADP). Wayanad is the only district in Kerala to make it to the list of 112 districts from all over the country, she said. According to Mamatha, Startup India will work closely with the state government to ensure that Wayanad becomes the next startup hub. She explained, "We are working with other departments like Athmanirbar Bharat regarding aspirational districts. Our focus is on developing startup incubation centres in Tier II and Tier III cities. For Wayanad, we will be having numerous brainstorming sessions with the state government, as it is the state bodies that must develop clear plans and initiatives for establishing and nurturing startup incubation centres in the district."
