HYDERABAD: The US government vigorously vetted the applications of the Indian entrepreneurs wishing to participate in the GES. The eighth edition of the Summit, which is a three-day event to be held in Hyderabad, is being co-hosted by the governments of USA and India. The Summit will have 1,500 participants in all, of which 400 will be from India. Reportedly, thousands of entrepreneurs applied to participate in the event.
The entrepreneurs were asked to furnish details regarding their businesses, including the stage at which the business was, the total investment raised, the total revenue generated, the number of employees, and its medium-term investment needs.
Additionally, details regarding the company’s website and social media accounts were also requested. Prospective participants were asked to submit identity proofs, including scanned copies of their passports.
According to sources, the authorities requested all these details, including financial information, in order to avoid any allegations of nepotism or favouritism in the selection of participants.
The companies that have been selected to participate in the Summit are mid-level and late-stage start-ups.
Meanwhile, foreign delegates have raised concerns regarding preparations for the event.
A participant who wishes to remain anonymous says, “We do not even have a point of contact in the USA. The way in which the entire event is being executed is very different from it way it was last year. Many of the agencies and people that were involved in the Summit before have not been included this year.” He says that instead of being proactive, the organizers are being very reactive.
