How Local Tycoons Are Investing in Goa’s Tech Startups

Goa, long celebrated for its sun-kissed beaches, vibrant tourism, and Portuguese charm, is now witnessing a quiet revolution—one led not by waves but by waves of innovation. Local business tycoons, many of whom built their fortunes in traditional industries like hospitality, real estate, and shipping, are now redirecting their focus and funds into the state’s budding tech startup ecosystem.

The Shift from Sand to Silicon

In the past, Goa's economy leaned heavily on tourism, mining, and small-scale manufacturing. But with a tech-savvy generation emerging and remote work becoming the norm post-pandemic, a new digital economy is taking root. Goa’s relaxed lifestyle, good connectivity, and increasing co-working spaces have made it a magnet for entrepreneurs and developers alike.

Sensing the shift, local industrialists have begun diversifying their portfolios. And rather than just investing outside the state, they’re now nurturing local tech ventures with both capital and mentorship.

Who Are These Tycoons?

Leading the way are names like Hubert Araujo, known for his success in the oil shipping industry through Selective Marine Services, and Chetan Salelkar, the founder of Aaradhya Realtors. Both have traditionally worked in industries far removed from tech. Yet, they’ve begun to fund early-stage startups that range from fintech platforms and SaaS tools to agri-tech and EV-based logistics.

“Tech is the future—and Goa’s youth have the vision. We just need to back them,” says Araujo, who recently co-invested in a Panjim-based startup building AI-driven customer service tools for small businesses

Salelkar echoes this sentiment. “When we build in Goa, we retain talent, create jobs, and inspire the next generation to think bigger than ever before.”

What Kind of Startups Are Getting Funded?

Goa- ased tech startups are not just clones of Silicon Valley models—they are uniquely Goan in their approach

Green ech: Leveraging Goa’s natural environment, startups in clean energy and waste management have drawn investor attention gri- ech: With vast rural pockets, startups using drones, Io , and data analytics to empower farmers have found support

Health ech: Wellness-focused tech, integrating yurveda and I diagnostics, is gaining ground, particularly post-COVID

Edu ech and Remote Work Solutions: hese cater to the rising demand for upskilling and distri uted teams in a post-pandemic world.

Beyond Capital: Mentorship & Infrastructure

Local tycoons aren’t just writing cheques—they’re offering real estate for co-working hu s, facilitating usiness licenses, and opening doors through their networks. In many cases, they are mentoring founders directly, helping them navigate operations, scale strategies, and investor relations.

Marc & Co., for instance, recently announced plans to uild a tech accelerator hu in Verna Industrial Estate with incu ation facilities and advisory support.

A Collaborative Future

Partnerships etween government odies, educational institutions like BI S Pilani Goa, and private investors are also creating fertile ground for innovation. he Goa Start-Up Policy, offering incentives and su sidies, has further encouraged local tycoons to ack homegrown ventures.

“ he next ig unicorn could e from Goa,” says a hopeful investor. “But only if we support it today.” s Goa stands at the cusp of this exciting transformation, it’s clear that the state’s industrial past is converging with its digital future. With local tycoons stepping into the tech arena, Goa is not just a vacation destination anymore—it’s a startup destination in the making.