IGNITE 2.0, A mega event on Building a Robust Startup Ecosystem was organized at CIMP: Distinguished Guests Shared Insights

IGNITE 2.0, a prestigious program focused on the strategic transformation of Bihar through Startups was organized by CIMP. The event was graced by the esteemed presence of Shri Vijay Choudhary Ji, Minister of Finance, Government of Bihar, along with an illustrious panel of guests, including renowned personalities from various fields such as academia, industry, and government.

The program commenced with a welcome address by Professor (Dr.) Rana Singh, Director CIMP welcomed the chief guests as well as other dignitaries. Naveen Jha, Senior Fellow from Harvard, delivered a keynote speech and shared his valuable insights on the significance of knowledge sharing and collaboration in building a strong startup ecosystem. He highlighted, “Startups thrive when there is a culture of collaboration and knowledge exchange. By fostering partnerships between academia, industry, and government, we can create an ecosystem that nurtures innovation and accelerates the growth of startups.” Dr. Sunil Kumar, CGM – NABARD, emphasized the importance of financial support for startups. He expressed, “Access to capital is a critical factor in the success of startups. Institutions like NABARD are committed to providing financial assistance and facilitating access to credit, which will enable entrepreneurs to transform their innovative ideas into viable businesses.”

Shri Vijay Choudhary Ji, Honourable Minister of Finance, Govt of Bihar emphasized the government’s commitment to fostering a thriving startup ecosystem in Bihar. He stated, “Startups hold immense potential to drive innovation, generate employment, and contribute to economic growth. The government is dedicated to providing the necessary support and creating an enabling environment for startups to flourish in the state.”

Dr. Vinaytosh Mishra, Associate Professor, GMU, Ajman (UAE), stressed the role of education and research in developing an entrepreneurial mindset. He stated, “Educational institutions play a pivotal role in fostering an entrepreneurial mindset among students. By integrating entrepreneurship education and encouraging research-driven innovation, we can create a pipeline of future entrepreneurs who are equipped to tackle real-world challenges.”

O.P. Singh, representing Cogniphy USA, discussed the significance of technology and digital transformation in the startup ecosystem. He commented, “Embracing emerging technologies such as artificial intelligence, blockchain, and data analytics is crucial for startups to stay competitive in today’s fast-paced digital world. Leveraging technology can drive efficiency, enhance customer experiences, and unlock new opportunities for growth.”

Shri Arun Agrawal, President, BIA, emphasized the role of industry associations in supporting startups. He stated, “Industry associations serve as crucial platforms for startups to connect with mentors, investors, and potential collaborators. By fostering networking opportunities and providing guidance, industry associations can contribute significantly to the growth of startups.”

Colonel Rahul Sharma, Director – NIFT, Patna, highlighted the importance of design thinking and innovation in startup ventures. He said, “Design thinking can give startups a competitive edge by enabling them to create user-centric products and services. Emphasizing design and innovation from the early stages can enhance the marketability and success of startups.”

Dr. Barna Ganguly, representing BIPFP, an institute of the Department Of Finance spoke about the significance of mentorship and guidance for startups. She stated, “Experienced mentors can provide invaluable guidance and support to startups, helping them navigate challenges and make informed decisions. Establishing mentorship programs and fostering a culture of mentorship can greatly benefit the startup ecosystem.”

Dr. Sandeep Tiwari, Principal – Darbhanga College of Engineering, highlighted the role of academia in promoting entrepreneurship. He expressed, “Academic institutions have a responsibility to nurture entrepreneurial spirit among students through entrepreneurship development programs, incubation centers, and industry-academia collaborations. By fostering

The mega event also witnessed two insightful panel discussions that shed light on the pivotal role of startups in the strategic transformation of Bihar. The discussions, moderated by Prof. Dr. Rana Singh, Director of CIMP, and Ms. Priyanath, provided a platform for prominent startup founders to share their inspiring growth stories and insights.

The first-panel discussion, titled “Strategic Transformation of Bihar: Role of Startups,” was moderated by Prof. Dr. Rana Singh. Esteemed panelists from diverse sectors, including industry leaders, entrepreneurs, and government officials, engaged in a thought-provoking dialogue on leveraging startups to drive the strategic development of Bihar. The discussion emphasized the importance of nurturing entrepreneurship, fostering innovation, and creating an enabling ecosystem for startups to thrive. K.P. Keshri, the former President of Bihar Industries Association, added his presence and grace to the panel discussion.

During the second panel discussion, titled “From Startup to Success: Inspiring Growth Stories of Prominent Startups,” Ms. Priyanath led a dynamic conversation with accomplished startup founders who shared their journeys, challenges, and success stories. The panelists showcased the transformative power of startups and provided valuable insights on scaling up, building sustainable business models, and overcoming hurdles in their respective industries.

During the event, a notable book launch also took place, focusing on the involvement of state governments in the implementation of India’s Corporate Social Responsibility (CSR) law. The book, titled “The Role of State Government in Implementing India CSR Law,” was a collaborative effort by Kumod Kumar, Prof. Rana Singh, and Rusen Kumar. The publication shed light on the crucial role played by state governments in ensuring the effective execution of CSR initiatives and provided insights into best practices and challenges faced at the state level.

All the distinguished guests were presented with mementos as tokens of appreciation by Prof. Dr. Rana Singh, Director of CIMP and Sh. Kumod Kumar, the Chief executive officer of CIMP. Prof. Ranjit Tiwari, Chairperson of the PGP Course, delivered the Vote of Thanks, expressing gratitude to all attendees. Another notable highlight of the event was the inauguration of a tuck shop within the campus by the honorable Finance Minister. This tuck shop, managed by a prominent startup named Paper Pepper, generated significant interest and enthusiasm among the participants.