Bhavish Aggarwal’s vision for India Inc; NVIDIA’s Dhupar on AI’s potential in India

Hi,

The curtain falls on the 15th edition of TechSparks 2024!

From Shri Amitabh Kant to Vishal Dhupar of NVIDIA, from Ananth Narayan of Mensa Brands to the poster boy of the Indian startup ecosystem, Bhavish Aggarwal – the final day Your story flagship tech startup summit was bigger, grander and more star-studded than ever before!

Kant spoke about the opportunities in India, while Narayanan outlined plans to scale D2C brands in India with Mensa Brands.

When the founders are here, how can investors be far behind? Ashutosh Sharma, Director, Development Investments, India and Asia, Prosus; and Mukul Arora, Co-Managing Partner at Elevation Capital, talked about investments, returns and what it takes to succeed in the Indian market.

At a time when startups are entering Indian stock exchanges, fintech giant Razorpay has no plans for an IPO, revealed Shashank Kumar, co-founder and chief technology officer of Razorpay.

At the grand finale, Ola Group’s Bhavish Aggarwal unveiled ambitious plans for India, with the country needing to lead the world in new energy and artificial intelligence.

Even though the Bengaluru edition of TechSparks has come to an end, there is something to look forward to! Until then, check out our full coverage of TechSparks 2024!

In other news, OpenAI, which is expected to raise about $6.5 billion, will not get money from Apple. According to Wall Street Journalthe iPhone maker recently withdrew from talks for the round, which is expected to end next week.

ICYMI: Your ChatGPT subscription will be even more expensive!

Finally, watch the dramatic rescue of the penguin chicks.

In today’s newsletter we will talk about

Bhavish Aggarwal’s vision for India Inc
NVIDIA’s Dhupar on AI’s potential in India
Avoid unicorns, accept “Indicocorns”

Here are some interesting facts for today: Where is the world’s largest meteorite crater?

TechSparks

Bhavish Aggarwal’s vision for India Inc

Ola and Ola Electric founder Bhavish Aggarwal has a dream for India Inc: to lead the world in new energy and artificial intelligence. The founder advocated a change in the perspective of entrepreneurs, calling on Indians to celebrate indigenous entrepreneurs instead of Western founders.

He stressed the importance of gaining traction in sectors such as new energy and artificial intelligence, stating that India is brimming with potential and energy, with growth in sectors such as artificial intelligence, space, life sciences and new energy technologies.

Long-term progress:

Comparing Ola’s development with that of India, Aggarwal highlighted how local enterprises are contributing to the country’s progress. He spoke passionately about “Josh, Junoon aur Jasbah” – enthusiasm, passion and drive – capturing the spirit that drives Indian entrepreneurs.
He pointed to the lack of homegrown digital products, saying: “We use other people’s search engines, other people’s social media and other people’s chips. We use other people’s artificial intelligence.” He emphasized the importance of Indian product development to establish the country’s leadership position in the digital ecosystem.
He also reminded the audience of India’s importance in the international arena, saying, “India is a country of importance. We are 20% of the world and we matter to it.”

TechSparks

NVIDIA’s Dhupar on AI’s potential in India

India has enormous potential to harness the power of artificial intelligence, says Vishal Dhupar, managing director of NVIDIA Asia South, thanks to the country’s wealth of talent, deep history and willingness to learn.

In his speech at TechSparks 2024, Dhupar exhorted India’s youth to leverage AI to address critical challenges in healthcare, education and mobility, and stressed the importance of raising awareness about AI as a productivity tool.

Progress Engine:

It’s important to break the myths about artificial intelligence, Dhupar said, adding that artificial intelligence actually enhances human capabilities, which opens the door to even greater opportunities.
Dhupar believes that by leveraging artificial intelligence and innovative platforms such as open source, India can accelerate its progress towards becoming a developed country, potentially achieving the goals of the Viksit Bharat vision ahead of schedule by 2047.
With the future of the AI industry in sight, Dhupar emphasized that having an ambitious vision is “extremely important.” He urged the Indian technology community to think big, innovate and solve difficult problems.

TechSparks

Avoid unicorns, accept “Indicocorns”

India’s growing startup ecosystem should recognize companies that have profitably grown revenues of more than Rs 100 crore, said Kunal Bahl, co-founder of Titan Capital, formally introducing the term “Indicorn” to describe such ventures.

Bahl believes that the main thing currently limiting startups is capital, not a lack of bright minds or the will to act.

Home success:

Highlighting India’s growing startup ecosystem, Bahl quipped, “We have breathtaking opportunities, but mind-blowing challenges, and those challenges create opportunities.”
Bahl then unveiled a website listing all India’s “Indicorns”, including PhysicsWallah, Nykaa, OfBusiness and Infra.Market, among others. Titan Capital has provided this website in partnership with data analytics platform Tracxn AND Your story as a launch partner.
Bahl believes that Indian startups are always under pressure to scale quickly, raise money and apply specific success metrics, and advises startups to “think about where and how they want to play and then move quickly on that path.” “.

News and updates

Watchdog: Three online sellers on Walmart-owned Flipkart have sued the CCI over an investigation that found Flipkart and Amazon violated competition laws. The court cases came after antitrust investigations found that Amazon and Flipkart, some of their sellers and smartphone brands, had violated competition laws.
GCC: As per the draft policy, Karnataka aims to double the number of its global capacity centers to 1,000 and create 350,000 new jobs by 2029. The state government has come up with incentives such as refund of rents and certain patent fees and exemption from electricity tax depending on number of employees employed by GCC.
AI discovery: Archaeologists using artificial intelligence have discovered hundreds of new geoglyphs depicting parrots, cats, monkeys and killer whales near the Nazca Line in Peru, almost doubling the number of known figures at this mysterious 2,000-year-old archaeological site.

Where is the world’s largest meteorite crater?

Answer: South Africa. The Vredefort Crater is the oldest and largest crater in the world – 285 miles wide.

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