On October 27, 2022, With the launch of the 1st ASEAN-India Start-up Festival in Bogor Indonesia, both India and ASEAN celebrated their 30-year-long strong bonds. In the presence of Mr. Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community, and Ambassador Mr. Jayant Khobragade, Indian Mission to ASEAN (IMA), Dr. Srivari Chandrasekhar, Department of Science and Technology, inaugurated the festival. 

Hosted jointly by the ASEAN Committee on Science, Technology, and Innovation (COSTI) and the Indian Department of Science and Technology (DST), this four-day-long event is being designed to organise four main events– startup exhibitions, seminars, and talk shows. The platform will be providing opportunities for start-ups to engage in a pitch battle session. Apart from that, the stage will hold B2B and G2G meetings in order to enhance the ties between India and ASEAN. 

“As a developing nation, India is currently dedicated to harnessing path-breaking innovations for comprehensive socio-economic growth. The ASEAN India partnership will enable concrete impact for this endeavor,” the words of Dr.Chandrasekhar in the inaugural address expressed the importance of the ASEAN-India relationship. 

Satvinder Singh, on the other hand, spoke about the vibrant and promising ecosystem ASEAN has developed. He went on to speak that despite the ill effects caused by the Covid-19 pandemic, ASEAN welcomed 25 unicorns at a combined valuation of $44 billion.  The successful hosting of the 1st ASEAN-India Startup Festival saw opportunities to further strengthen ASEAN-India cooperation to accelerate the startup economy,” he further added. 

India is currently going through a major start-up run. By bringing together government officials, start-ups, innovators, and inventors, the festival gave a clear message to expand the start-up run to global networks.