Mumbai, 28 February 2025: As Mumbai Tech Week 2025 (MTW’25) commences, Hon’ble Chief Minister Devendra Fadnavis, along with industry leaders and policymakers, announced a series of strategic initiatives aimed at elevating Mumbai’s position as the global powerhouse for AI and innovation. The announcements reinforce the Government of Maharashtra’s commitment to advancing technology, fostering entrepreneurship and attracting transformative investments to the region.
Key Announcements at MTW 2025:
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Strategic FinTech Infrastructure Expansion: The Mumbai Metropolitan Region Development Authority (MMRDA) officially welcomed the National Payments Corporation of India (NPCI) to Bandra-Kurla Complex with a formal land handover in the presence of Hon’ble CM Fadnavis.
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Entrepreneurship Museum: Mumbai is set to establish India’s first-of-its-kind Entrepreneurship Museum to celebrate and document the city’s legacy of business innovation. The announcement was made by the Hon’ble CM, along with key stakeholders from the Government of Maharashtra and TEAM Governing Council at the opening of Mumbai Tech Week 2025. The museum will serve as a knowledge hub, showcasing entrepreneurial milestones and inspiring the next generation of founders.
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TEAM MumbAI 2035 report Launch: The much-anticipated TEAM-Mumbai Report, with McKinsey & Company as the knowledge partner for the report, providing the underlying research and analytical fact-base for it, was unveiled by the Hon’ble CM alongside the TEAM Governing Council and McKinsey India leadership. The in-depth report deep-dives into Mumbai’s emergence as India’s AI capital, its rapidly growing startup ecosystem, and the projected economic impact of AI-led innovations in the coming decade.
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MoU: Govt. of Maharashtra and Meta: The Government of Maharashtra and Meta signed a Memorandum of Understanding (MoU) to integrate AI into governance. Under this collaboration, Meta’s AI-powered ‘Aaple Sarkar’ initiative will enhance public service delivery and citizen engagement through advanced AI models.
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Dept. of Skills x TEAM MoU on Innovation City & AI: The Maharashtra State Innovation Society (MSInS) and TEAM have signed an MoU to promote AI-driven innovation in Maharashtra. They will collaborate on policy, startup support, and AI for governance. The partnership aims to strengthen the AI ecosystem and drive economic growth through joint initiatives.
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Launch TEAM Angels: TEAM announced TEAM Angels, a founder-led investment collective, where founders pool capital to invest in Mumbai-based startups. The initiative will provide capital, mentorship, and access to industry networks to backing Mumbai’s brightest early-stage startups Headquartered in Innovation City, its sole focus will be supporting Mumbai-based startups through structure and funding.
Speaking at the inaugural event, Hon’ble Chief Minister Devendra Fadnavis said, “We have seen what our people can achieve when given the right opportunities which is why we are committed to position the State of Maharashtra as the next start-up hub. With most startups now being tech-driven, we’re creating a comprehensive ecosystem to nurture every innovator who aspires to lead our nation’s AI and technology revolution. Our vision is clear, Maharashtra will become the engine powering innovation throughout India, creating prosperity that extends far beyond our state borders.”
The second edition of Asia’s largest AI event powered by TEAM (Tech Entrepreneurs Association of Mumbai) in collaboration with the Government of Maharashtra has successfully brought together global thought leaders, policymakers, and industry pioneers, fostering meaningful discussions and collaborations that will shape the future of AI.
Tech Entrepreneurs Association of Mumbai (TEAM) is a non-profit, independent industry association formed with the mission of advancing the tech ecosystem of Mumbai. Formed by some of the city’s most successful tech founders, TEAM is on a mission to promote Mumbai as the hub for tech entrepreneurship.
Its Governing Council comprises of Harsh Jain, Co-Founder Dream 11, Aakrit Vaish, Advisor, IndiaAI Mission and Co-Founder, Haptik, Naiyya Saggi, Founder Edition and Co-Founder, The Good Glamm Group, Dhruvil Sanghvi, Co-Founder LogiNext, Akanksha Hazari, Founder LoveLocal, Vishal Gondal, Founder GoQii, Mayank Kumar, Co-Founder Upgrad and Vivek Khemani, Co-Founder Quantiphi.
65+ members are founders from Mumbai-based tech companies: BillDesk, BookMyShow, Chalo Mobility, CitiusTech, CleverTap, Dezerv, Dream11, Drip Capital, Eruditus, Fino Payments Bank, Fractal Analytics, FlexiLoans, Games24x7, GetVantage, GOQii, Gupshup, Haptik, Hungama, Infibeam Avenues, Invideo, LEAD School, Loco, LogiNext, LoveLocal, Mosaic Wellness, Nazara Technologies, Netcore Cloud, Shaadi.com, Pepper Content, Pepperfry, PharmEasy, Pine Labs, Prismforce, Purplle, Quantiphi, Rebel Foods, Route Mobile, Servify, The Good Glamm Group, The Souled Store, Turtlemint, upGrad, Upstox, WebEngage, and Zeta.
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