Washington, June 13 (IANS) India’s innovation ecosystem has gained “tremendous respect” in Silicon Valley over the past five years, fuelled by a surge in startups, artificial intelligence (AI) ventures and global investment, entrepreneur and investor Shashi Tripathi told IANS ahead of the ‘Bharat Innovates 2026’ summit in France.

“What India has done is phenomenal in many areas around AI, around technology, around overall innovations,” Tripathi said, adding that “the respect for India has gone up significantly when it comes to innovation.”

The ‘Bharat Innovates 2026’, to be inaugurated by Prime Minister Narendra Modi and French President Emmanuel Macron, will showcase 100 Indian startups selected through a competitive process. Tripathi said the event reflects India’s growing stature as a global centre for innovation and entrepreneurship.

Tripathi said Silicon Valley’s view of India has changed markedly as entrepreneurs expand beyond traditional technology services into emerging sectors including artificial intelligence, fintech, retail technology and space innovation.

“New space technologies are being created in India. New fintechs are coming. New retail models are being created,” he said. “So, a lot of new innovation is happening,” he added.

The growing innovation pipeline has also attracted substantial international investment, he said, pointing to major commitments from global technology companies and venture capital firms.

“A lot of new investments are being grown into India from Silicon Valley,” Tripathi said, adding that “A lot of money is being thrown in India because of all the innovation.”

He attributed part of India’s progress to a cultural shift that has made entrepreneurship a more attractive path for young graduates.

“I think the culture has changed now,” he said. “I remember when I graduated, I couldn’t even phantom to start a company right out of my graduation,” he added.

Today, he said, many students are launching ventures before they even complete their studies. “Failure has been accepted now, and until you fail, you cannot innovate,” he said.

Tripathi described the ‘Bharat Innovates 2026’ as an important platform for international collaboration, saying that Indian startups would benefit from exposure to global markets, investors and technology ecosystems.

“Collaboration is needed,” he said. “Learning what’s going on, comparing ourselves to the rest of the world is important.”

He said the startups selected for the summit represent some of India’s strongest emerging companies across sectors including artificial intelligence, fintech, health technology and advanced engineering.

“These are very top-notch startup,” he said. “These are very high-quality startups.”

Tripathi also credited PM Modi for helping foster India’s startup culture and expanding innovation beyond the country’s largest cities.

“I will give him the credit about cultivating and starting the startup ecosystem,” he said. “He has played a huge role.”

He noted that innovation is increasingly emerging from tier-two and tier-three cities, broadening participation in India’s economic growth.

Despite the progress, Tripathi said India must pursue more ambitious projects if it hopes to rival the world’s leading innovation centres.

“India has now the talent, the capacity, the audacity complete new innovation,” he said. “India can do it.”

He called for deeper collaboration among government, industry and academic institutions, particularly the Indian Institutes of Technology, which, he said, have played a significant role in producing startup founders and technology leaders.

“IIT has played a huge role,” Tripathi said, adding that “I think that IIT will continue to play huge role.”

India is home to one of the world’s largest startup ecosystems, with thousands of ventures operating across sectors ranging from software and financial technology to healthcare, clean energy and artificial intelligence. Government initiatives over the past decade have sought to improve access to funding, incubation, and mentorship for entrepreneurs.

–IANS

lkj/na