Delivering the closing speech at The Economic Times Startup Awards 2024 in Bengaluru On Saturday, Vaidyanathan praised the government’s drive to encourage startups and build a digital ecosystem that continues to support and encourage the growth of startups.
“New age companies are innovating on real-life problems and the government is actively creating a support system to promote this growth,” he said.
He also recognized Nandan Nilekani, founding chairman of the Unique Identification Authority of India (UIDAI) from 2009 to 2014, for his contribution to India’s digital advancements.
“Nandan Nilekani has played a crucial role in developing the country’s public digital infrastructure and the growth of the startup ecosystem has been born out of it,” Vaidyanathan said.
Nilekani was president of the jury that chose the winners and also moderated a session at Saturday’s event.
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Nearly 20,000 startups among the country’s 100,000-odd startups are banked with IDFC First Bank, Vaidyanathan said, adding that the bank is working on developing its technology stack that will enable hyper-personalization, data analytics and data engineering. They have become industrial hubs and Bengaluru’s startup ecosystem has emerged around its universities, young talent and venture capitalists, he said. However, the city still needs to work on its infrastructure and roads to make it more conducive and liveable, he added.
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