Mega Start-up Culture of India & Megaminds of MDI

August 06, 2023 | 11:00 AM

An entrepreneur is defined by a person who makes money by starting…Let’s stop right there. It’s 2023 and it’s time to put a modern twist on the good ol’ textbook definition. An entrepreneur is a wild inventor of tomorrow, a risk-taker, a doer who fearlessly turns visions into realities. Today there are over 92,000  entrepreneurs in India who are changing the landscape of our country each passing day.

German Cars, Italian Pizzas, Indian Start-ups
That is modern India’s start-up culture for you. The nation, once known primarily for its traditional industries and outsourcing services, is now becoming a hotbed for innovation, entrepreneurship, and technological advancements. India now has the 3rd largest startup ecosystem in the world; expected to witness a consistent YoY annual growth of 12-15% . We have truly witnessed a remarkable transformation in its business landscape in the recent years. The start-up ecosystem in India has gained immense traction, attracting not only domestic entrepreneurs but also global investors, thus propelling the country into a new era of economic dynamism.

Fuel for Thoughts & Dreams
Snowballing of technology, increasing smartphone penetration, affordable high-speed internet – these lent India its conducive environment for start-ups. And perhaps to MDI’s Megaminds as well. Since the institute’s inception 50 years ago, MDI Gurgaon has always fostered an entrepreneurial spirit. As an ode to MDI’s progressive stance, the platform of ‘Megaminds’ was born. Created in 2018 by the alumni of the institute, MDI Megaminds is a start-up pitch event that gives entrepreneurs or founders an opportunity to showcase their venture to investors and mentors. 
In the last two years, over 80 startups have presented in Megaminds with many raising funds. Beyond the capital aspect, many founders have benefited from the mentorship, visibility as well as networking opportunities that our eminent MDI alumni aided with, wholeheartedly so. While start-ups may be profit-driven entities, Megaminds has been about everything but profit. This endeavour is a helping hand, a much-needed pat on the back, to the ones who dared to dream, to do, to create something new. And beyond Megaminds also, a ‘new’ and a ‘doer’ will always find friends in an institute like MDI.

Investments, Insights & More
While MDI Megaminds initially brought professional investors (angels, accelerators, etc.) and high-potential startups into the same space, its influence grew substantially later. The platform started generating capital and new interest from non-professional investors, who have now become regular attendees and investors at the event. So far, over 40 investors are connected via this platform, and it’s growing. Such event exhibits an inspiration for how knowledge and formal networks can be leveraged to contribute to the dynamic startup ecosystem. The business school’s initiative is surely a visionary one to further empower entrepreneurship in India.
At the end of the day, when one looks upon the fact that Megaminds, at its heart, is a non-profit, voluntary event organised and Alumni-managed, each and every stakeholder of MDI feels immense pride to witness budding founders catapulting their dreams to reality with the help of this platform.

Let’s Hear your Pitch
Yet another dynamic Megaminds Event is round the corner, on 6th August 2023 at MDI campus. So, if you are or if you know a start-up entrepreneur who has a proof of concept and needs seed funding or one who might be operational for some time, you know what to do right away. Register for the upcoming Megaminds event here Don’t miss this one-of-its-kind chance to be a part of a room full of innovative ideas, business discussions, and sharp insights into the real start-up world. For any questions, drop us a note on [email protected]. 6th August, 11 AM, MDI Campus it is – mark your calendars CEOs!