Startups in Goa

Last updated

Making a pitch, startups at the GIZ Techathon for startups and others, May 2018. Making a pitch, startups at the GIZ Techathon 2018.jpg
Making a pitch, startups at the GIZ Techathon for startups and others, May 2018.

Startups in Goa refer to businesses being generated out of technology innovation and incubation centers operational or planned in Goa. Being a small, holiday-oriented state on the west coast of India, and a former Portuguese colony which attracts recent settlers, the start-up ecosystem in Goa has drawn some attention due to its differences from the rest of the country. [1] [2] [3] While startups in the region have gained some momentum in recent years, there has been concerns raised about shortcomings faced by the same.

Contents

Government policy and 2020 proposed policy

Upcoming events announced at the 91Springboard co-working location in Panjim. May 2018. What's on, in the startup and related space.jpg
Upcoming events announced at the 91Springboard co-working location in Panjim. May 2018.

The Goa of Goa launched its startup policy on April 28, 2018. [4] This policy promises creating "at least 100 successful startups" in five years time, which it claimed would generate jobs for 5,000, and develop "a minimum 2,00,000 lakh sq ft area for technology innovation and incubation centers" in the same period. [4]

In July 2020, media reports locally noted that the Goa start-up policy was "set to lapse" in 2020, and the state had started working on "a revamped policy that will address regulatory bottlenecks and enhance funding avenues for startups." [5]

Issues and challenges faced

There have also been hints of issues facing start-ups in Goa, including over infrastructure, ease (or lack of ease) of doing business, and the state's ability to build a corruption-free environment. Some in the field have pointed to the need for "reliable internet providers in the state, who offer good internet speeds at reasonable prices". [6] Members of the Goa IT Professionals (GITP), a group of IT experts many of whom trace their roots or education to the local region of Goa but who have had to work outside the region due to a lack of sufficient opportunity here, have also raised concerns. This has emerged on the GITP WhatsApp discussion groups or in its press statements. The GITP has called for a quick implementation of official promises. [7] While Goa has been praised for being "among the handful of states to have achieved 100 percent rural electrification and boasts one of the best models of broadband penetration in the country", there have been concerns voiced about both efficiency of electrical supply [8] and Net access [9] and also Internet accessibility especially in areas away from the larger towns and urban areas. [10]

Incubator at Verna

Other initiatives have meanwhile also been taken up. The Verna-based Centre for Innovation and Business Acceleration or CIBA is "a technology business incubator based in Goa and Mumbai supporting and nurturing startup companies by providing services such as incubation, modern office spaces, mentoring, networking opportunities, seed funding and rapid prototyping" [11] CIBA says it "creates a creative, innovative and a friendly startup culture to host future ready enterprises." [12]

Related Research Articles

A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to go public, startups are new businesses that intend to grow large beyond the solo-founder. During the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to become successful and influential.

National Association of Software and Service Companies (NASSCOM) is an Indian non-governmental trade association and advocacy group that primarily serves the Indian technology industry. Founded in 1988, NASSCOM operates as a nonprofit organization and serves as a key entity within the Indian technology sector.

<span class="mw-page-title-main">Goa Institute of Management</span> Business school in Goa, India

The Goa Institute of Management is an Indian autonomous business school located North Goa district in the state of Goa. GIM Goa was founded in 1993 by Romuald D'Souza, a Jesuit priest.

A business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services, starting with management training and office space, and ending with venture capital financing. The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development. NBIA categorizes its members' incubators by the following five incubator types: academic institutions; non-profit development corporations; for-profit property development ventures; venture capital firms, and a combination of the above.

<span class="mw-page-title-main">Indian Institute of Management Kozhikode</span> Indian autonomous public business school

Indian Institute of Management Kozhikode is an autonomous public business school located in Calicut (Kozhikode), Kerala. The institute, set up in 1996 by the Government of India in collaboration with the State Government of Kerala, is one of the 20 Indian Institutes of Management (IIMs). It was the fifth IIM to be established.

<span class="mw-page-title-main">Software Technology Parks of India</span> Technology Park

Software Technology Parks of India (STPI) is an S&T autonomous society under Ministry of Electronics and Information Technology (MeitY) engaged in promoting IT/ ITES Industry, Innovation, R&D, Start-ups, Product/ IP creation in the field of emerging technologies like Internet of Things (IoT), Blockchain, Artificial Intelligence (AI), Machine Learning (ML), Computer Vision, Robotics, Augmented & Virtual Reality, Animation & Visual effect (AVGC), Data Science & Analytics for various domains like FinTech, Agritech, MedTech, Autonomous Connected Electric & Shared(ACES) Mobility, ESDM, Cyber Security, Gaming, Industry 4.0, Drone, Efficiency Augmentation, etc. STPI was established in 1991 by the Indian Ministry of Electronics and Information Technology (MeitY) with the objective of encouraging, promoting and boosting the export of software from India. STPI Headquarters is located in New Delhi with over 60+ Centres spread across the country.

Ashok Jhunjhunwala is an Indian academic and innovator. He received his B.Tech. from the Indian Institute of Technology, Kanpur and PhD from the University of Maine. He has been a faculty member at the Indian Institute of Technology Madras since 1981. He is the President of IIT Madras Research Park and Chairman of International Institute of Information Technology, Hyderabad. During his career, he has contributed extensively to technology innovation and adoption in the Indian context.

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in more than 1,000 Indian cities and towns, as of 2022–23. Zomato rivals Swiggy in food delivery and hyperlocal space.

Harvard Innovation Labs (i-Lab) is an institution which aims to promote team-based and entrepreneurial activities among Harvard students, faculty, entrepreneurs, and members of the Allston and Greater Boston communities.

<span class="mw-page-title-main">The Entrepreneurship Cell, IIT Bombay</span>

The Entrepreneurship Cell, IIT Bombay, also known as E-Cell, IIT Bombay, is the primary entrepreneurship promoting body of the Indian Institute of Technology Bombay, managed and run completely by the students of the institute. It organizes initiatives like the annual business plan competition Eureka! and the flagship event, The Entrepreneurship Summit (E-Summit) in January each year, which receives a footfall of over 30,000 people who include students, investors, corporates, mentors, celebrities and the most important; Entrepreneurs.

redBus Online bus ticketing company

redBus is an Indian online bus ticket booking company that provides bus ticket booking through its website and iOS and Android mobile apps. It is headquartered in Bangalore and works like a hub, acting as a medium for a network of more than 3500 bus operators, across the countries of India, Malaysia, Indonesia, Singapore, Peru, and Colombia. It claims to have registered over 180 million trips, with a customer base of over 20 million. In 2018, the company achieved a GMV of ₹50 billion, with a 70% share in the Indian online bus ticketing segment.

<span class="mw-page-title-main">Kerala Startup Mission</span>

Kerala Startup Mission is the central agency of the Government of Kerala for entrepreneurship development and incubation activities in Kerala, India. KSUM was primarily founded to undertake the planning, establishment, and management of the technology business incubator (TBI), a startup accelerator in Kerala, to promote technology-based entrepreneurship activities, and to create the infrastructure and environment required to support high-technology-based businesses.

<span class="mw-page-title-main">Jason Fernandes</span> Indian blockchain entrepreneur

Jason Fernandes is an Indian blockchain entrepreneur and technology columnist hailing from Goa. As a teenager, Fernandes founded the internet portal ZeoCities.com, the non-profit LDKids.org and wrote for CHIP Magazine. Later, while studying at the University of Texas, Austin, Fernandes co-invented the Internet-based DVR, InstantTV, and was part of the founding team at PerceptiveI. After moving to Goa in 2012, Fernandes began working as a monthly technology columnist for GlobeAsia Magazine, Indonesia. He has also founded the IoT company SmartKlock Inc and two Blockchain companies, FUNL Corp, and Malta-based AET Ventures (AEToken), of which he is presently the COO. Fernandes has advised state governments and political parties on IT and education policies. He also writes for various technology media publications and has spoken at TEDx events.

<span class="mw-page-title-main">Marwadi University</span>

Marwadi University (MU) is a private university located in Rajkot, Gujarat, India. It was established on 9 May 2016 by the Marwadi Education Foundation through The Gujarat Private Universities (Amendment) Act, 2016. As of 2017, it offers 54 different courses. It is graded A+ by NAAC.

Policybazaar is an Indian insurance aggregator and multinational financial technology company based in Gurgaon. The company was founded in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar. It provides a digital platform—website and an app—where users can compare insurance policies and other financial services from major insurance companies. The company is India's largest insurance aggregator, and has expanded its operations to the United Arab Emirates.

<span class="mw-page-title-main">Don Bosco College of Engineering</span> College in Goa, India

Don Bosco College of Engineering is an institute of technical education in Fatorda, Goa. It was established in 2011, and is run by the Fatorda Salesian Society. The college campus was designed by civil engineer Olavo Carvalho.

<span class="mw-page-title-main">Government e Marketplace</span> Indian government internet platform

The Government e Marketplace (GeM) is an online platform for public procurement in India. The initiative was launched on August 9, 2016, by the Ministry of Commerce and Industry, Government of India with the objective to create an open and transparent procurement platform for government buyers. It was built in a record time of 5 months to facilitate the online procurement of goods and Services. The purchases through GeM by Government users have been authorized and made mandatory by the Ministry of Finance by adding a new Rule No. 149 in the General Financial Rules, 2017.

Yulu is an Indian technology-driven electric micromobility platform headquartered in Bengaluru.It provides shared low-speed two-wheeler electric vehicle (EV) services in Bengaluru, Mumbai, Navi Mumbai, Delhi and Gurugram. Yulu operates 25,000 dockless shared EVs and has four million users. Its EVs are used for 280,000 last-mile deliveries and 10,000 commutes each day.

<span class="mw-page-title-main">CIIE.CO</span> Indian startup accelerator

CIIE.CO is an Indian startup accelerator and incubator that supports early-stage startups located at IIM Ahmedabad in Ahmedabad, India. It was founded in 2002 to promote innovation and entrepreneurship in India. It is a Center of excellence set up at Indian Institute of Management Ahmedabad with support from the Government of India's Department of Science and Technology and the Government of Gujarat.

References

  1. ↑ "Goa woos new businesses to become startup hub as it goes beyond beaches". Moneycontrol. 12 January 2024. Retrieved 6 March 2024.
  2. ↑ "HDFC Bank commits Rs 99 lakh to assist Goan startups". The Times of India. 23 January 2024. ISSN   0971-8257 . Retrieved 6 March 2024.
  3. ↑ Soni, Yatti (31 December 2019). "The Emerging Startups Of Goa That Are Thriving Despite Lack Of Private Investments". Inc42 Media. Retrieved 6 March 2024.
  4. 1 2 "Union Minister Suresh Prabhu Launches Goa Startup Policy". Inc42 Media. 28 April 2018. Retrieved 23 June 2018.
  5. ↑ "New startup policy for Goa on anvil". The Times of India. 3 July 2020. Retrieved 20 October 2020.
  6. ↑ "Goa Is Going Cashless Effective December 31, 2016; Would Become India's First Cashless State!". Trak.in - Indian Business of Tech, Mobile & Startups. 30 November 2016. Retrieved 20 October 2020.
  7. ↑ Sequeira, Newton (13 August 2020). "Goa's IT stakeholders welcome telecom policy, call for quick implementation". The Times of India. Retrieved 20 October 2020.
  8. ↑ "'Power cuts, surges in South Goa due to delayed repairs on K'taka supply lines'". oHeraldo. Retrieved 6 March 2024.
  9. ↑ "New supply project set to resolve South power woes". The Times of India. 20 August 2020. Retrieved 21 October 2020.
  10. ↑ Sequeira, Newton (19 October 2020). "Goa: Family ties internet router to tree for son's online classes". The Times of India. Retrieved 21 October 2020.
  11. ↑ "CIBA | Entrepreneurship in Goa | Startups in Goa | Innovation". www.ciba.org.in. Retrieved 22 June 2018.
  12. ↑ "CIBA | Incubation centre in Goa | Entrepreneurship in goa". www.ciba.org.in. Retrieved 22 June 2018.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.