Chanakya National Law University hosted CATALYST: Startup Law & Policy Summit 2024. Dr Md Safiullah chief secretary of event said that the objectives of the summit are to bring together legal experts, policymakers, entrepreneurs, investors and academicians to discuss the intersection of law, policy and the startup ecosystem. The events will be focus on to understand how regulation and policies impacts startups and explore way to create a more supportive legal environment for innovation and growth. The outcome of this summit will be compiled and a policy draft will be submitted to government of Bihar.
The Chief Guest Shri C.S.S. Rao (I.E.D.S), Joint Director, MSME Patna said by prioritizing data protection, startups can build trust with their customers and position themselves as leaders in their respective industries.
The panelist for this summit were top-notch law firm experts who worked in policy making in government of India: Mr. Supratim Chakraborty (Partner, Khaitan & Co Law firm) spoke on Legal approach towards emerging technologies (Data protection/AI/Blockchain etc.). Mr. Biplab Lenin (Partner, Cyril Amarchand Mangaldas, Law firm) spoke on Technology integration in health. Challenges and opportunities: Health-tech, Med-tech, AI in Healthcare, Challenges faced by startups. Mr. Sameer Avasarala (Principal Associate, Lakshmikumaran & Sridharan Attorneys) spoke on Data Privacy & Cybersecurity considerations around AI in startup. Mr. Shantanu Sahay (Partner, Anand and Anand, Law firm) spoke on Approaching IP issues when dealing with emerging technologies and interface. Mr. Raghav Muthanna (Partner, IndusLaw, Law firm) spoke on AI and Regulatory Innovation in Startup Ecosystem in Fintech and Mr. Sudarshan MJ (Senior Associate, Saikrishna & Associates, Law firm) spoke on AI & Liability & moderated the panel.
The panel discussions included the topic risks to investors, why 80% startups failed in India in its initial stage. The challenges of high taxation and interest rates in India. The panel emphasized on the importance of research and development, the abolishment of the Angel Tax and its future implications. They also discussed the implementation of regulatory sandboxes by sector regulators and the government, noting that such frameworks already exist in India.
Over 80+ research articles were received on startup law & policy issues, among these, the top 15 research papers were selected for publication, and the top four papers were invited for presentation. Where Aditya Hiremath from Hidayatullah National Law University, Raipur was declared as Winner and Smeet Sanghvi and Sashank Sarvanan (Gujarat National Law University) emerged as runner-up. The Winner and Runner Ups were awarded with cash prize of Rs. 30,000 & Rs. 20,000 respectively. Certificate, internship opportunity with Nishith Desai & Associates, and the opportunity to publish their paper in a reputed Book Bearing ISBN number were also scheme of the competition.
Prof. (Dr.) Faizan Mustafa, Vice-Chancellor of CNLU, highlighted the university's dedication to entrepreneurship through the Centre for Innovation, Incubation, and Legal Entrepreneurship (CIILE) and praised its pro-bono consultancy services. He noted CNLU's recognition as the 4th best institution in Bihar and the impact of the CATALYST summit on startup laws. Prof. (Dr.) S.P. Singh, Registrar of CNLU, underscored the summit's importance in addressing challenges in AI, insurance, and emerging technologies. Dr. Kirti emphasized the summit's role in connecting legal academia, industry, and policymakers, focusing on investment law and the digital economy.