Panneerselvam Madanagopal, CEO of MeitY Startup Hub, has emphasized that Tier II and III cities will be pivotal in driving the next wave of startup growth in India. He anticipates the emergence of hundreds of companies from these regions in the near future.
This statement was made at the ‘NextGen Startup Summit’ organized by Vivekananda Global University (VGU) in Jaipur, which aimed to foster discussions among policymakers, investors, and early-stage founders about scaling startups outside major metropolitan areas.
The Summit, held in partnership with VGU’s Atal Community Innovation Centre (ACIC), focused on empowering startups from non-metro regions. Key topics included global market access, funding challenges, and ecosystem development.
Notable attendees included VGU CEO Onkar Bagaria, ACIC VGU CEO Gaurav Sharma, and various founders and industry leaders. Madanagopal shared insights on the Genesis programme, which aims to build a robust startup ecosystem in Tier II and III cities through a network of 65 partner incubators.
He remarked, “I have seen the spark and hunger for growth in tier II and III cities… Within a few years, there are going to be hundreds of companies emerging from places like Jaipur and Udaipur.”
The event attracted over 150 participants, including startup founders, mentors, and investors, and featured a Shark Tank-style pitch session where 15 startups presented their ideas to a panel of investors.
A significant theme of the Summit was the importance of collaboration among ecosystem stakeholders. VGU CEO Bagaria stressed that Jaipur's evolution into a tier I startup hub would require a unified approach. He stated, “If we are one ecosystem, no other city can beat us.”
ACIC VGU CEO Gaurav Sharma echoed this sentiment, highlighting the need for stakeholders to work together rather than in isolation. He noted that while Rajasthan has made progress with various incubators and VC firms, the next step is to enhance collaboration.
Sharma also shared that the ACIC VGU currently supports over 200 startups, with 58 having secured funding, and emphasized the incubator's future focus on improving startup visibility and fostering partnerships for coordinated growth.
