About the summit
The Indian startup ecosystem continues to be the third largest in the world. Around 9,000 startups were incepted during 2014-19 with an overall base growing at 12-15% y-o-y out of which 1,300+ startups were added in 2019 only. With 18% of base being deep tech for startups, the convergence of technologies is at the highest level now. The increasing adoption is also reflective of the improving technology / engineering skills in the Indian startup ecosystem.
India policy changes, consumer demand, global potential, and maturing startup ecosystem is seeing good movement in engineering startups – though not as big as the growth in computer software-based startup. Indian government policy and support in the space, A&D has enabled India private sector including startup to innovate and contribute to the growth of these sectors. Electric mobility has enabled growth in many startups within the vehicle and component space. Challenges in fighting Covid-19 has enabled inception of many healthcare related startups. The progress in the technology manufacturing startup is not limited to above sectors but is also seen in other sectors such as consumer appliances, process industries, industrial to name a few.
One of the challenges in the inception of engineering startups is the testing of prototype to ensure the required competitive advantage to build demand. Product demonstration, trial is important before investment in manufacturing and distribution capacity happen. At times, this is a prerequisite for many backers (investors, customers) before the funding decision is made. Is there a way to ensure that within limited funds, startups founders are able to evaluate their idea without investing in prototype while simultaneously doing this faster and with minimal efforts? There are examples globally wherein startups have raised funds even before prototype was developed. Simulation is the answer to this challenge.
A consumer good startup was able to demonstrate the significant breakthrough by using Ansys’ simulation software and was able to raise crowdfunding of USD 3.1 million as against a goal of USD 100K. By working on multiple designs, an aerospace startup saved millions of dollars in hardware cost. These are just few examples where startups have invested in Ansys simulation to quickly raise funding, build customer confidence, and realize product competitive advantage.
us for this free virtual summit where we will have industry experts,
directors, leaders, investors, founders participating in this event to
discuss and provide unique insights on following:
- Founding and scaling up engineering startups
- Deploying simulation technology to minimize risk, foster innovation, and reduce time to market the startup idea
Who should attend?
- Startup founders
- SME promoters
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