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NASSCOM InnoTrek 2024 connects Indian startups with U.S. market
This initiative is aimed at fostering collaboration between Indian entrepreneurs and the U.S. tech and investment ecosystem, with a particular focus on Chicago as a hub of innovation and business growth.
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Global Market Access Program. / Image - Global Indian Diaspora Foundation/ Rakesh Malhotra
The Indian Consulate in Chicago, in partnership with the Global Indian Diaspora Foundation, hosted more than 35 leading Indian deep-tech startups as part of the Global Market Access Program.
The event, which also launched the NASSCOM InnoTrek 2024 USA, aimed to connect Indian entrepreneurs with the U.S. tech ecosystem, fostering collaborations with venture capitalists, accelerators, and business leaders.
NASSCOM InnoTrek is an invite-only program designed to help Indian startups access new markets, particularly in the U.S., by offering them exposure to potential investors and partners. Chicago, a growing hub for innovation and global partnerships, is a strategic focal point of this year’s initiative.
In his keynote address, Somnath Ghosh, Consul General of India in Chicago, highlighted India’s status as a global leader in the startup ecosystem. “While India is the
third-largest startup ecosystem in terms of numbers, by quality and impact, it ranks
second globally,,” Ghosh said.
He also lauded India’s youth for their innovation and drive, drawing on his experience with India’s defense startups under the IDEX initiative, which has seen rapid technological developments.
Mayank Gautam, director of global trade at NASSCOM, led the delegation and emphasized Chicago’s critical role in future collaborations. He described India’s deep-tech sectors, such as artificial intelligence, quantum computing, and sustainable technologies, as key drivers of global growth.
Rakesh Malhotra, president of the Global Indian Diaspora Foundation, underscored the importance of cross-border collaboration. “The true strength of India’s growth lies in the collaboration between our dynamic startup ecosystem and the global diaspora,” Malhotra noted.
The NASSCOM InnoTrek 2024 USA program provides Indian startups with a platform to build partnerships, scale their operations, and expand their reach in the U.S. market, particularly through Chicago’s innovation ecosystem.
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