ICAI To Hold 2nd Edition of Startup Sphere Event From June 27-29 In Bengaluru; Aims To Facilitate Over USD 200 Mn Funding To Startups

·         More than 10,000 people from the startup ecosystem expected to Participate in the 3-day Event

The Institute of Chartered Accountants of India (ICAI) hosted a curtain-raiser press conference in Bangalore for the upcoming Startup Sphere 2024 event, scheduled from June 27th-29th, 2024, in Bengaluru, the "the tech city of India." The event aims to bring together the dynamic startup community, including partners, unicorns, leading influencers, founders, investors, leaders, and entrepreneurs, to discuss a broad range of topics related to the startup ecosystem. The goal is to raise awareness, foster idea generation, facilitate capacity building, and offer support for the growth of India's startup ecosystem.

Building on the resounding success of last year's inaugural Startup Sphere event in Mumbai, which saw an estimated USD 100 million commitment of funding from 60 pitches presented to 75 investors, this year's event is poised for even greater achievements.

Sharing insights about the Startup Sphere 2024 event, CA. Ranjeet Kumar Agarwal, President, ICAI said, “I am proud to highlight the remarkable growth of India's startup ecosystem, now the third largest globally. After the success of the inaugural Startup Sphere event in Mumbai last year, we have decided to hold the event in the tech and startup hub of the country, Bengaluru. The Startup Sphere 2024 is scheduled from 27th to 29th June, 2024. We are expecting to arrange more than USD 200 million funding this year. More than 10,000 people are expected to participate in this three-day event that aims to connect entrepreneurs and investors, wherein startups can share their ideas and get investments. The stakeholders can reach out to ICAI for regulatory compliance, advisory on financial management.”

President further added, “We have over 4 lakh members of which around 1.6 lakh Chartered Accountants are in practice. Rest 2.4 lakh members are working in every facet of the financial ecosystem, be it venture capital, investment finance and private equity, their expertise extends throughout contributing significantly to India's startup success story."

Sharing more details on the upcoming mega event, CA. Dheeraj Kumar Khandelwal, Chairman, Committee on MSME & Startup of ICAI, said, “The Startup Sphere 2024 event is set to feature 100 exhibitors and 200 startups pitching their innovative ideas to an estimated 100 investors from Bangalore alone. Representatives from over 100 ICAI branches across India will also attend along with eminent Ministers, unicorns, entrepreneurs, government officials. Notably, more than 15 unicorns are expected to participate, adding to the event's prestige and networking opportunities.”

The ICAI Startup Gateway is a testament to ICAI's dedication to promoting entrepreneurship, driving innovation, and empowering startups as key contributors to India's economic progress. The key focal point of Startup Sphere 2024 includes Emerging Trends in Startup Ventures, AI & Machine Learning for Startups, the Intersection of Technology and Entrepreneurship, Digital Transformation & Marketing for Startups, Block Chain and Data Mining etc.

ICAI stands as a steadfast supporter of startups, providing them with crucial resources, mentorship, and a nurturing environment for sustainable development. With a strong connection to the MSME sector, ICAI offers financial advisory services, project financing, and expertise in working capital management, among other valuable services. As a pivotal player in India's vibrant startup ecosystem, ICAI is committed to fostering the growth of startups and acknowledging their indispensable role in driving economic prosperity and fostering innovation.

The Startup Sphere 2024 event is supported by the Department for Promotion of Industry and Internal Trade (DPIIT) through the Startup India, Ministry of Electronics and Information Technology (MeitY), Software Technology Parks of India (STPI) and Karnataka Innovation and Technology Society (KITS). This collaborative effort underscores the shared commitment to fostering innovation, entrepreneurship, and economic growth in India. Through knowledge-sharing, networking opportunities, and strategic partnerships forged at this event, we aim to catalyze the development of startups and contribute significantly to India's vibrant entrepreneurial landscape.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs. With around 8.6 lakh students and close to 4 lakh members, ICAI is the largest Professional Accountancy Body in the world. Today ICAI has a wide network of 5 Regional Councils and 176 Branches in India and a global presence with 50 Overseas Chapters and 31 Representative Offices spanning 81 cities across 47 Countries worldwide.