Banking Frontiers

Vibrant Goa Summit

Goa Technology Associatio­n has ambitious plans and a concomitan­t roadmap: Goa richer by Billions of ` through Vibrant event

- mehul@bankingfro­

Goa Technology Associatio­n, or GTA, founded in 2017, intends to pin Goa on the national and internatio­nal IT and ITES maps for the state’s technology capabiliti­es. Milind Anvekar, vice president at GTA, says GTA had presented an ecosystem study report to the state government and is working along with the government to frame an IT and startup policy for the state. The state had recently celebrated an IT Day and a Startup Day to showcase the IT companies and startupsin the state. GTA had also managed to get the likes of NASSCOM and STPI to focus on Goa and jointly organize few events there.


Goa has some 150+ IT and ITES companies. There are 3 fintech companies - Minkspay, Loan Singh and Codemax - in addition to several others operating in different technology domains.

GTA has already partnered with ICICI Bank to organize an event discussing the impact of the emerging technologi­es in the banking sector. In 2020, it plans to host a 2-day summit on the fintech sector.”

GTA was a partner for the first-ever, 3-day Vibrant Goa Expo and Summit organized by Vibrant Goa Foundation and held in Panaji in October. A number of angel investors had visited Goa during the summit and Anvekar says these include CIO Angel Network, India Angel Network, Lets Venture, Rajasthan Angels, Goa Angels, Startup Buddy, 91 Springboar­d, Crest Capital, KYT Venture sand Alacrity India.


Along with the Goa Business School of the Goa University, GTA curated an IT summit at Vibrant Goa Summit focusing on the IT segment. A workshop for early stage startups and potential startups discussing the various aspects of startups, was part of the summit. Anvekar says GTA believes that with eminent national and internatio­nal business leaders and delegates visiting Goa for the summit, the startup and technology ecosystem has indeed benefitted. The summit also saw a workshop for HNIs on understand­ing how to invest in startups. A pitching session was also organized where 8 startups were shortliste­d from total of 41 applicatio­ns from Goa to pitch to the top investors from India.

GTA facilitate­d a meeting between the investors and IT minister Jennifer Monserrate to discuss on creating a local startup fund. The entire event received overwhelmi­ng response and has opened opportunit­ies for GTA and its members to explore business in and outside Goa.

Goa’ s chief minister Pr a mod Sawant appreciate­d the efforts of GTA in accelerati­ng the growth of the IT ecosystem in the state. He assured the government’s support for GTA.

Anvekar says GTA hopes to contribute 1% of the total national software export by 2025 and help build and promote at least 100 good startups in the state over the next 4 years. “We want Goa to be the next IT event destinatio­n of the world and will have next set of activities aligned towards meeting this objective,” he adds.


It is proposed that Software Technology Parks of India (STPI) will develop an IT park in Goa and set up a mentor-enabled center of excellence in emerging technologi­es. Dr Omkar Rai, director general, STPI, said the facility will be created at a cost of `400 million for promotion of IT industry, entreprene­urship and startup culture in the state. The chief minister has offered 14,000 square metre plot of land at Dona Paula for creating a facility for promoting startup and IT industry activities in the state. An MoU was signed for the proposed project which is expected to be completed in 30 months.

Says Rai: “The project, housing a state-of-the-art incubation center, plug and play facilities, data center and a center of excellence, will provide opportunit­ies to Goan boys and girls in the field of electronic­s and IT. They can become entreprene­urs by developing their products as startups. It will become a research and resource center for those startups that would like to convert their ideas into prototypes. STPI will also act as a facilitato­r for software export in this region.”


The summit yielded investment proposals worth `4.53 billion as well as business inquiries worth `11.50 billion. The chief minister highlighte­d his government’s

endeavor to fill the gap by creating synergies as well as synchronis­ing the existing industries and new industries that are likely to come up in the state as a result of the event and other initiative­s. The state government is working to ensure that the youth in the state deservingl­y get jobs in the private sector, which is currently witnessing a resurgence .

The chief minister is also aiming for a political or legal solution to the mining issue by December end. The mining industry has been a major contributo­r to the state’s economy.

Sawant said the industry, business and trade related proposals of foreign investors, willing to invest in Goa, would be expeditiou­sly cleared in 30 days through a single-window system under the Goa Investment Promotion and Facilitati­on Board. He said several countries, including the US, Australia, Oman, UAE, Kuwait, Qatar, Singapore, Russia, Bhutan, Nepal, China, Malaysia and Canada, have shown interest to invest in Goa, especially in the hospitalit­y, IT and tourism sectors.


The chief minister cited finance minister

Nirmala Sitharaman’s assurance that the cental government is ready to help Goa in promoting innovative projects such as medical tourism, on which the state government has been actively focusing because the hinterland areas of the state have a great potential. He said the state is ready to amend some laws, if necessary, in the next assembly session to promote to medical tourism.

Uni o n mi n i s t e r for r a i l way s , commerce and industry Piyush Goyal had told the Goa leadership to engage Australia and New Zealand to bring sea sport and modern sea facilities into the state. The state should allso explore the feasibilit­y of introducin­g helicopter services connecting the south and north districts.

Goyal had assured the central g o v e r nment’ s a s s i s t a nc e to create empowered infrastruc­ture to promote tourism in the state, with special packages for new hotel infrastruc­ture and plans to expand railway infrastruc­ture.


Dr Jagat Shah, the chief mentor of Vibrant Goa Summit, said small scale enterprise­s and local companies have become firsttime exporters in the state. He mentioned that a company from Oman has signed a contract worth `100 million, the biggest of the event, for the import of building material from a Goan businessma­n Arman Bankley’s AR-Mine’s Industries. Wooden Homes India, a South Goa-based company that can set up a one-storey house in less than 5 days, has got orders from Nepal and the US for constructi­ng wooden homes. A Canadian building material company has also confirmed an order of `600,000 to a Goan company.

The Summit saw some 410 B2B meetings and 180 domestic companies were guided and prepared to deal with trade in foreign countries.

Raj Kumar Kamat, president, organizing committee, said: “The US, Australia, Oman, Kuwait and Qatar del e g a t i o ns have signed MoUs in diverse sectors like renewable energy, p h a r maceuti c a l s , food processing, informatio­n technology, biotechnol­ogy, real estate, constructi­on and artificial intelligen­ce. The event attracted about 6500 business delegates, including 530 overseas delegates.”

 ??  ?? Goa chief minister Pramod Sawant addressing the first ever ‘Vibrant Goa’ Global Summit
Goa chief minister Pramod Sawant addressing the first ever ‘Vibrant Goa’ Global Summit
 ??  ?? A cheque for ` 10 lakh being handed over to ‘Fabcoders Retail Software’ by Goa IT minister Jennifer Monserrate (right) and chief minister Pramod Sawant at a session on startups at the Summit
A cheque for ` 10 lakh being handed over to ‘Fabcoders Retail Software’ by Goa IT minister Jennifer Monserrate (right) and chief minister Pramod Sawant at a session on startups at the Summit
 ??  ?? Milind Anvekar reveals that GTA hopes to contribute 1% of the total national software export by 2025
Milind Anvekar reveals that GTA hopes to contribute 1% of the total national software export by 2025

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