India has urged the G20 countries to unite in their commitment to the startup ecosystem with a call to allocate a substantial sum of $1 trillion for the startup ecosystem by 2030. At the Startup20 Engagement Group meeting in Goa, Chair of Startup20 Dr Chintan Vaishnav said it witnessed crucial discussions and meetings aimed at strengthening collaboration and aligning efforts towards the growth and support of startups globally.
The program commenced with closed-door meetings between national and international delegations and Dr Vaishnav focused on key agendas and strategic partnerships.
Dr Vaishnav at the press conference on Sunday highlighted the progress made and the significance of the Policy Communiqué. He expressed his satisfaction with the agreement reached by all delegates on the Communiqué, marking a pivotal moment in the journey of the G20 nations towards fostering startup ecosystems worldwide. Dr Vaishnav emphasized the collective efforts and extensive consultations undertaken with G20 nations to arrive at this crucial juncture.
Dr Vaishnav underscored the importance of specific action points outlined in the Communiqué. ‘’The key action points include the creation and adoption of a definition framework for startups, creating a network institution to support startups and ecosystem stakeholders across G20, increasing and diversifying access to capital, easing market regulations for startups, and prioritizing the inclusion of underrepresented communities within the startup ecosystem as well as the scaling up startups of global interest. These measures aim to foster a conducive environment that empowers startups to innovate, grow, and address global challenges effectively,’’ he said.
The agreement signifies the confidence of the Startup20 community in scouting startups globally, funding them collaboratively, mentoring them contextually, and scaling them internationally. The G20 nations have taken a significant stride forward in their mission to nurture and support startups, setting the stage for a vibrant and thriving global startup ecosystem.
The summit meeting of Startup20 Engagement Group is slated to happen in July at Gurugram on July 3rd and 4th.
