India-Kuwait Startup Synergies Conference unites innovators at GUST
• H. E. Dr. Adarsh Swaika said India as the world’s third-largest startup ecosystem, with 140,000 startups, 118 unicorns valued at $350 billion, and over 1.55 million jobs created, contributing 15% to GDP, led by IT, healthcare, and education
The Embassy of India in Kuwait, in collaboration with the Gulf University for Science and Technology (GUST) and the Institute of Chartered Accountants of India (ICAI) – Kuwait Chapter, organized the India-Kuwait Startup Synergies Conference on December 8 at the renowned GUST University, according to a press release from the Indian Embassy in Kuwait.
His Excellency Dr. Adarsh Swaika, Ambassador of India to Kuwait, in his welcome remarks, referred to the historical trade linkages between India and Kuwait and emphasized the embassy’s continuous efforts to strengthen the bilateral relationship based on mutual development through investment synergies.
The two editions of the India-Kuwait Investment Conference, organized by the Embassy in 2023 and 2024, featured Indian delegations from Invest India, the National Investment and Infrastructure Fund (NIIF), the Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce & Industry (FICCI), and the International Financial Services Centres Authority (IFSCA) – GIFT City. These delegations provided valuable insights into the current investment ecosystem in India.
Ambassador Swaika highlighted that India has emerged as the world’s third-largest startup ecosystem, with over 140,000 registered startups and 118 unicorns as of October 2024, collectively valued at over $350 billion. These startups have created over 1.55 million direct jobs and contributed about 15% to India’s gross domestic product (GDP), with the information technology (IT)industry being the most active sector, followed by healthcare and life sciences and education.
The Indian ambassador also spoke about the vibrant entrepreneurial ecosystem in Kuwait, which has developed into a potential innovation hub for the Middle East, thriving due to advantages such as a sizable young population, robust funding opportunities, and active support through government initiatives.
Fostering collaboration
The conference was envisioned as a platform to bring together prominent speakers and thought leaders from the startup ecosystems of both India and Kuwait to share success stories, experiences, and insights on fostering collaboration between the two countries.
Key speakers from India included Mr. Rahul Bothra, CFO at Swiggy, a multimillion-dollar e-commerce platform in India; Mr. Anil Singhvi, Managing Editor of Zee Business; and Mr. Vinay Bansal, Co-Founder and CEO of Inflection Point Venture and Partner at Physis Capital.
The Kuwaiti perspective was provided by Eng. Abdul Wahab Al Zaidan, a Consultant with the Kuwait Digital Startup Campus, Youth Public Authority, and Mr. Abdulrahman AlDuaij, Founder & Managing Partner of HOLISTIC, Kuwait, a leading provider of developmental and consultancy services.
The conference served as a platform for knowledge sharing and highlighting success stories, fostering synergistic learning that encouraged ideation and innovation.
The speakers presented case studies and key examples of how recent startups in both India and Kuwait have become disruptors, proving to be trailblazers in their respective sectors. Guests had the opportunity to engage with the speakers in an enlightening Q&A session, which was followed by open networking.
The India-Kuwait Startup Synergies Conference was well-attended by prominent Kuwaiti professionals and businesspeople, GUST MBA students, as well as Indian professionals holding senior positions in Kuwaiti companies. It is part of the embassy’s initiative to foster collaboration between the business and professional communities of Kuwait and India, aimed at enriching trade and investment relations between the two friendly countries.
