Ambassador’s speech at the 5th Batch of KGAP+ India Challenge on June 11, 2021. Ambassador’s speech at the 5th Batch of KGAP+ India Challenge on June 11, 2021.
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Ambassador’s speech at the 5th Batch of KGAP+ India Challenge on June 11, 2021.

Embassy of India

Tokyo

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Sub: Ambassador Speech for KGAP India Challenge

Dr. Hiroyuki Suzuki, Executive Vice President, ATR

Mr. Kris Gopalakrishnan, former Chairman, CII National Startup Council,

Mr. Suni Shekhawat, NASSCOM,

Indian Startups participating today (Articvatic.ai, Ashield, , Infilect, Pathpartner, Detect technologies, Dimensions NXG)

Representatives of KGAP+,

Investors and Participants

Ladies and Gentlemen,

 

  • It gives me immense pleasure to deliver the opening remarks at the at the 5th Batch of KGAP+ India Challenge which tells about the positive response and support it is getting from Japanese business community.
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  • I congratulate the organisers from KGAP+, ATR for hosting this event under its KGAP+ initiative during these challenging times. The COVID19 pandemic has not dampened our will to continue to work together despite all odds and in fact, utilise and explore the opportunities provided by rapid advancement in digital technologies.
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  • I understandsince last year 14 Indian startups across difference sectors have showcased their innovation and solutions and 4 have been selected for POC (Proof of Concept) so far. I am pleased to see8 Indian startups participating in this 5th session.
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  • In this COVID pandemic times, Start-ups world-over and in particular in India have responded to the crisis with new innovative solutions. Indian start-up ecosystem is one of the world’s largest ecosystem with more than 50K registered startups (which comprises more than 10K Tech Startups).
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  • In just over five year, the number of unicorns in India has increased from 4 in 2015 to 51 in 2021 (approx 13 times) with total valuation of about US$ 150 Billion. It is expected that by 2025 India would have about 100 unicorns with total valuation of about US$ 375 Billion. Indian Start-ups are exploring newer sectors, leveraging deep-tech and tapping unexplored talent pools.
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  • Despite COVID-19 pandemic, Indian startups raised more than USD 9.3 billion across 1088 deals and by May, 2021 Fourteen Indian tech startups have already become unicorns. These unicorns are not confined to a single domain or industry but spanned from healthtech to fintech, from B2B to SaaS.
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  • It is estimated that in a post-COVID era, there is a high probability that emerging verticals such as fintech, edtec, healthtech, e-commerce and agritech will be in demand globally, as at present, much of the world is working remotely and many businesses and personal transactions are being done on a global scale. The global fintech market is expected to grow to $ 309.98 billion at an annual growth rate of 24.8 percent by 2022. There are clear indicators that certain elements of the global fitech industry such as contactless Point of Sale (POS) transactions will continue to grow .
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  • India-Japan bilateral relations are growing in the domain of technology and innovation in recent years under the theme of “Digital Partnership” as these are the next frontiers for our bilateral relations. There is strong complimentarity and convergence in this area. Start-up ecosystems of both countries are being connected through various initiatives such as this. We are working closely with METI, JETRO and other stakeholders in Japan. Therefore this is a huge opportunity for Japanese companies to leverage.
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  • I hope that the Webinar will continue to support the stake holders to better understand the vast potential of Indian start-up ecosystem and innovation sectors which provides a favorable climate of investment in India. I am looking forward to a great session.
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  • Thank you / Arigato Gozaimasu
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