Vi­brant Goa Sum­mit

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

Banking Frontiers - - Contents - me­[email protected]­ingfron­tiers.com

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.

IN­VESTORS FOR FIN­TECHS

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.

PRO­MOT­ING 100 STARTUPS

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 PARK SOON

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.”

4.53 BN IN­VEST­MENTS

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.

MED­I­CAL, SPORTS TOURISM

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.

FIRST-TIME EX­PORTERS

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

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

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