Goa Institute of Management (GIM) and Malaysia based WIEF Young Leaders Network (WYN) collaborated to bring IdeaLab 2018 to India. IdeaLab 2018 is a start-up conference that cultivates entrepreneurs and assists in the development of a start-up ecosystem. The event witnessed a vibrant audience of entrepreneurs, business leaders, investors, academia and students come together to discuss and deliberate on matters related to the country’s start-up eco-system.
Shortlisted by the NITI Aayog, as one of the 13 institutes nationwide to host the prestigious, innovation-oriented Atal Incubation Centre (AIC), the Goa Institute of Management (GIM), one of the premier B-schools in India, hosted the AIC’s first initiative with this conference.
IdeaLab 2018 is one of the several initiatives undertaken by GIM to celebrate its completion of 25 years of imparting knowledge to the country’s future corporate leaders.
In his opening address, Tun Musa Hitam, Chairman of WIEF Foundation and Former Deputy Prime Minister of Malaysia said, “This is the first time WIEF’s IdeaLab has travelled out of its home city, Kuala Lumpur. We started IdeaLab in 2015 and aimed for it to become a startup empowerment platform. Goa fits the bill perfectly for IdeaLab 2018 as Goa’s government has proclaimed to make Goa not just a national startup hub, but the top 25 startup hub in Asia, by 2025. Our objective is to boost startup ecosystems and therefore our focus is on early stage startups.”
Startups in India are hitting new highs in terms of their valuations. Global investors are ploughing funds into the sector. In the past, the start-up scene has been defined by consumer-driven ventures. Lately, there has been a shift in that ecosystem as India’s start-ups begin to focus on technology and product innovation. This trend is largely being driven by India’s expanding economy, rising disposable income, and the technology boom. India has seen a wave of entrepreneurs trying to tap the market with new ventures. India’s GDP grew at 7.7 per cent in the first three months of 2018, making it the world’s fastest-growing major economy.
IdeaLab 2018 is designed to prepare early-stage startups to move into the entrepreneurial phase with VCs, entrepreneurs and experienced startups contributing to the platform. It has attracted more than 30 speakers from Malaysia, South Africa, Singapore, Scandinavia, USA, Denmark, India and many more.
Established in 2015 under WIEF Young Leaders Network (WYN), IdeaLab is a boutique startup conference that connects global investors to the most promising startups around ASEAN, particularly in e-commerce, fintech, edutech, foodtech and other disruptive sectors.