Entrepreneurship in Goa is at an all-time high. This is the time when Goan startups are constantly in the news for creating innovative products, platforms and services. Be it spice-based wine, craft vacations, hyperlocal services or fleet management, startups in Goa are making a splash around the world for their compelling business ideas that can scale quickly and profitably.
What is causing this sudden boom of startups in the state?
Well, there is nothing miraculous about the fact that the words innovation and Goa are being written on the same line. Several people and institutions have worked hard to prepare a favourable environment for breeding startups in the state. At the forefront is CIBA (Centre for Incubation and Business Acceleration), earlier Agnel Entrepreneurship Development Institute, a leading incubation centre in Goa.
CIBA focuses on empowering IT and food technology startups, and since its inception in the year 2000 (as Agnel Entrepreneurship Development Institute), the incubation centre has supported over 5,000 fledgeling startups in the state.
In the recent past, CIBA revved up the startup initiatives in Goa and is on a mission to educate and inspire young minds to pursue innovation and entrepreneurship. Their efforts have certainly contributed in kindling the spark of entrepreneurship in Goa.
What makes Goa an ideal destination for startups?
Goa is perceived as the penultimate place to rest one’s body and mind. It is a perfect place to launch your startup, too!
- Infrastructure: Goa boasts of a robust infrastructure to prosper commerce and trade
- Incubation facilities: CIBA with its two-state-of-the art incubation centres in Goa, together with Springboard91, offers ample incubation opportunities for startups
- Great Environment: Goa offers pristine beaches, fresh air and lush-green stretches, in short, an ideal environment to rejuvenate mind and soul, a fundamental requisite for the pursuit of innovation
- Access to bright and enterprising local talent
Launching a startup can be a stressful task; hence, more and more entrepreneurs are heading towards states like Goa where the pace of life is slower, and quality of life is higher.
Blue-eyed Startups of Goa
L&A Tech: The Verna-based IT startup, mentored by CIBA and GITIC, has been acquired by a German IT company for 1 million euros, the first such acquisition for any Goan startup.
Transerve Technologies: A leading Hyperlocal technology company, Transerve offers solutions to improve city operations. Initially incubated at CIBA, it is helmed by IIT- Kanpur alumnus, Amarsh Chaturvedi.
FleetRover: An end-to-end enterprise software for fleet management, FleetRover is currently tracking thousands of vehicles and enabling several clients to make informed business decisions. FleetRover is founded by Luke Sequeira along with his friends. Luke is also the founder of DCCPER, which helps entrepreneurs around the world to build scalable web and mobile apps.
Licor Armada: Born in Goa, raised in Portugal and educated in UK, Oscar de Sequeira Nazareth founded Licor Armada, a handcrafted spice-based liqueur reminiscent of the Portuguese Colonial Era. Today, the startup not only sells in the upscale hotels and restaurants, but also exports to UK and Finland.
There are many other Goan startups such as Zooter, Vacation Lab, Prototyze, Poocho, etc., who have helped in putting Goa on the startup map of the world.
As the sunshine state transforms its perception from beach-wear to business-wear, many entrepreneurs queue up to seek incubation in Goa. If the trend continues, it won’t be long when Goa and innovation would become synonymous to each other.
15th July 2017
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