TiE Global Summit 2024 Kicks Off a Four-Day Celebration of Innovation, Collaboration, and Global Entrepreneurship

Bengaluru, 10th December 2024 : The TiE Global Summit 2024 (TGS24) commenced today at the Bangalore International Exhibition Centre (BIEC), bringing together distinguished global leaders, entrepreneurs, investors, and policymakers. Organized by TiE Bangalore, the summit brings together global entrepreneurs, investors, and thought leaders to explore key themes of innovation, collaboration, and the future of entrepreneurship. It is Supported by the Government of Karnataka (Department of E, IT, BT) as the State Partner and co-hosted by the Ministry of Electronics and Information Technology (MeitY), Government of India, and Software Technology Parks of India (STPI), the summit aims to redefine the global entrepreneurship landscape under the theme “Putting Entrepreneurship First.”

The summit began with the Antraprerna Summit on December 9, which laid the foundation for discussions on sustainability, innovation, and building entrepreneurial ecosystems. The sessions provided actionable insights into tackling global challenges and fostering sustainable growth.

The inauguration ceremony witnessed participation from an illustrious panel of dignitaries, including Shri Priyank Kharge, Hon’ble Minister of IT, BT, RDPR, Government of Karnataka; Lt. Governor Tahesha Way, New Jersey and Secretary of State;  Arvind Kumar, Director General, STPI; Dr. Ekroop Caur, IAS, Principal Secretary to Government, Department of E, IT, BT & S&T, Government of Karnataka;  Mr. Chris Hodges, U.S. Consul General, Chennai; Shri Prashanth Prakash, Chairman, Karnataka Vision Board and Founding Partner, Accel India;   BV Naidu, Chairman, Karnataka Digital Economy Mission; Dr. Sanjay Tyagi, Jurisdictional Director, STPI; Mr. Ashish Chauhan, MD & CEO, NSE; Shri Sanjeev Gupta, CEO, Karnataka Digital Economy Mission (KDEM); Mr. Amit Gupta, Global Chair, TiE Global; Mr. A.J. Patel, Chairman, TiE Global; Mr. Akhilesh Tuteja, Global Cyber Security Leader, KPMG; Mr. Madan Padaki, President of TiE Bangalore and Chair of TGS24; and Ms. Lakshmi Pratury, CEO, INK Talks.

On the inauguration day, the summit featured an engaging session titled “Entrepreneurship Through the Lens of Storytellers,” where Mr. Madan Padaki, President of TiE Bangalore and Chair of TiE Global Summit 2024, conversed with renowned Indian film actor Vidya Balan and film producer Siddharth Roy Kapur. The session delved into their unconventional journeys, exploring the resilience required to overcome setbacks and the power of persistence. Vidya shared her belief in staying grounded and approaching every opportunity with a fresh perspective, while Siddharth highlighted the importance of intentionality and adapting to challenges. Both speakers drew fascinating parallels between storytelling and entrepreneurship, emphasizing the highs, lows, and the constant drive to innovate and learn.

In another captivating session at the TiE Global Summit 2024, legendary tennis champion and philanthropist Andre Agassi took the stage for the FutureSparks session, themed ‘Marathon Mindset.’ He shared his remarkable journey, from dropping out of 8th grade to pursue tennis full-time, to becoming a transformative figure in education by building 130 schools that have benefited over 80,000 children in the past decade. Agassi emphasized the value of hard work and work-life balance, explaining that while his father valued success through winning and money, he focused on listening to his children and holding them accountable. He spoke about the importance of curiosity in education and the willingness to take risks, which has allowed him to learn and grow throughout his life. He also highlighted the role of sports in shaping creativity, problem-solving skills, and the ability to thrive in high-pressure environments, stressing that losses are only valuable when you learn from them.

During the inauguration of the TiE Global Summit 2024, the KPMG-TiE report “Democratisation of Entrepreneurship” was unveiled, highlighting key insights such as 20% of MSME startups being women-led, 45% emerging from Tier II/III cities, and the important role of government-supported incubation programs in fostering entrepreneurship. Lt. Governor Tahesha Way, New Jersey and Secretary of State delivered a speech emphasizing the strong ties between New Jersey and India. She highlighted the state’s $11.3 billion in two-way trade and a 2,025% increase in Indian business interest since 2019. With its world-class universities, skilled workforce, and history of innovation, New Jersey offers ample opportunities for Indian entrepreneurs. Also, Mr. Ashish Chauhan, MD& CEO, National Stock Exchange, spoke about the transformative role of technology in India’s financial markets, with the NSE empowering millions and driving wealth creation, underlining technology’s central role in India’s growth.

A major highlight of TGS24 is the TGS100 initiative, which showcases 100 early-stage startups selected from over 1,300 applications across 17 countries. These startups, spanning sectors like AI, Healthcare, Climate, and Social Impact, will pitch to a super-jury of investors and industry leaders for a chance to win a prize pool of INR 50 lakhs. Additionally, the TiE Women Global Pitch Competition, with 3,100+ women-led startups from 62 countries, will culminate with 43 finalists competing for top honors and a USD 50,000 prize pool.

Speaking at the inaugural session of the TiE Global Summit,  Priyank Kharge,  Minister for IT, Bt, RDPR, Government of Karnataka said, “Karnataka views entrepreneurs as innovators and disruptors, whose transformative ideas are not only creating new markets and job opportunities but also shaping a more sustainable future. By equipping entrepreneurs with essential tools like mentorship and incubation, we aim to make entrepreneurship a natural choice, not just an aspiration. The Elevate program, run by the Government of Karnataka, supports startups with 50 lakh rupees in funding, with zero equity taken. To date, 983 startups have been funded through this initiative, with 32% hailing from Tier-1 and Tier-2 towns and 24% being women-led. I invite global entrepreneurs and think tanks to join hands with the Government of Karnataka in building a better, brighter, and bolder world.”

“Entrepreneurship is a transformative force—it’s not just about starting businesses, but about shaping the future. Reflecting on the growth of India’s financial markets, particularly with the Bombay Stock Exchange and the National Stock Exchange, technology stands as the driving engine behind this transformation. The NSE revolutionized the market with screen-based trading in 1994, and today it empowers millions of Indians to participate in wealth creation. As our nation continues to evolve, technology will remain the cornerstone of our growth. Whether you’re a small business owner or a large corporation, India’s capital markets offer a platform for all, driving innovation and opportunity. The future belongs to those who innovate, and in India, that future is bright for entrepreneurs and investors alike.” — Ashish Chauhan, MD&CEO, National Stock Exchange.

 Speaking on the occasion, Madan Padaki, President of TiE Bangalore and Chair of TGS24, said, “As we gather here today, let us celebrate the energy and aspirations that drive us forward. Over the past 32 years, TiE has been a beacon of purpose, fostering entrepreneurship and building a better world. This journey has been fueled by the incredible power of our ecosystem – a collective force of government leaders, academia, financial institutions, investors, and entrepreneurs. Together, we have proven that nothing is impossible when the right minds come together. The connections we create here, the ideas we ignite, and the passion we share make TiE a global phenomenon. Today, we don’t just light a lamp; we light the path for future entrepreneurs. It is the spirit of TiE – uniting the world, empowering innovation, and elevating entrepreneurship to new heights.”

TGS24 continues to embody the spirit of collaboration, innovation, and entrepreneurship, fostering meaningful dialogue and partnerships that will shape the future of business and society.