‘Hyderabad is the new Silicon Valley’

By successfully hosting the GES, the Telangana State capital has created magic, says NITI Aayog CEO Amitabh Kant

By   |  Published: 1st Dec 2017  12:00 amUpdated: 1st Dec 2017  12:48 am
Delegates group photo in Global Entrepreneurship Summit (GES) at HICC in Hyderabad on Thursday. Photo: Hrudayanand

Hyderabad: Hyderabad has created magic by hosting South Asia’s first GES from the inception of the global event. Giving testimony to what the city has achieved by organising the summit by bringing entrepreneurs from across the world on to one platform, NITI Aayog CEO Amitabh Kant, said in his closing remarks, Hyderabad is the new Silicon Valley of the world. And only it can create such a magic.

Lauding the efforts of Telangana government in making the summit a success, he said, Hyderabad had all the characteristics needed to host such a massive global event and the State government acted as the right partner facilitating every support that was needed throughout the summit.

The eighth GES that was held in Hyderabad from November 28 to 30 brought together about 1,200 entrepreneurs and 350 investors from across the world. The US President’s senior advisor Ivanka Trump led the US delegation at GES, focusing on the theme ‘Women First, Prosperity for All’. The summit focused on Energy and Infrastructure, Healthcare and Life Sciences, Financial Technology and Digital Economy, and Media and Entertainment. The summit saw participation from the top industry leaders, policy makers and government officials from India, US and other countries.

On the impact the summit will make on entrepreneurship, Kant said, “The summit will create entrepreneurial dynamism and drive all the efforts of the government-Make in India, Startup India and Digital India. This is the first time that GES had about 53 per cent women participation.”

He said the GES app that was used through a wearable device enabled identification of 42,679 contacts, 75,000 contacts made, 12,000 business cards exchanged, 11,356 meetings requested, 89,000 tweets made, 1,000 GB of upload/donwload happened at the GES. This is a testament of how a platform like this can bring entrepreneurs and investors connect and enable fruitful networking.

Telangana Industries and IT Minister KT Rama Rao, while addressing the media said, “GES has rightly focused on the need to boost women entrepreneurship. The State which has already been encouraging women entrepreneurs through three women-only industrial parks and its country’s largest incubator T-Hub will in future come out with specific incentives and subsidies for women entrepreneurs.”

“The GES brought entrepreneurs from about 150 countries, had 200 speakers and hosted 53 sessions. The summit became a vibrant platform for entrepreneurs to network with other entrepreneurs and venture capitalists resulting in good deal flows. The combined efforts of the US government delegation led by Ivanka Trump, NITI Aayog and Telangana government had yielded fruitful results for the entrepreneurs in the form of learning, network and funding opportunities,” he added.

The Road to GES has fetched rich dividend by providing access to the abundant talent available in the entrepreneurial ecosystem.

Speaking about the strengths of Hyderabad as a host to the summit, the Minister said, the city has emerged as an attractive meetings, incentives, conferences and exhibitions (MICE destination). It’s time to realise that India is beyond the four metros. Hyderabad has showcased its strength by hosting the GES successfully, further boosting its efforts to nurture and support entrepreneurs.