Inception meeting of Startup20 concludes in Hyderabad

The inception meeting of Startup20, a new Engagement group initiated under India's G20 presidency, was concluded in Hyderabad, an official statement said on Tuesday. G20 is a grouping of developed and developing nations. India is holding its presidency for this year. The aim of the Startup20 Engagement Group is to create a global narrative for supporting startups and enabling synergies between startups, corporates, investors, innovation agencies and other key ecosystem stakeholders.

The engagement group comprises three task forces - Foundation and Alliance; Finance; and Inclusion and Sustainability, where delegates will come together to discuss efficient policy frameworks to promote scaling up of startups in G20 nations.

"The primary objective is to harmonise the global startup ecosystem through a collaborative and forward-looking approach," it said.

The purpose of this group is to provide a common platform for startups from G20 member countries to come together to develop actionable guidance in the form of building of enabler's capacities, identification of funding gaps, and enhancement of employment opportunities.

Ministers and senior officials besides private sector have participated in the two-day meet which was started on January 28.

Commerce and Industry Minister Piyush Goyal, Minister of Culture G Kishan Reddy, Minister of State for Commerce and Industry Som Parkash, G20 Sherpa Amitabh Kant, and CEO NITI Aayog Parameswaran Iyer addressed different sessions.

Parkash spoke on startups being the drivers of the global economy, with a focus on creating a collaborative network among stakeholders, including accelerators, incubators, startups, and government agencies, to support startup growth and formulate actionable insights, it said.

On the other hand, Kant focused on the importance of startups in proving solutions to global issues. Iyer in his address emphasised on India's position as a key innovator.
Secretary, Department of Promotion of Industry and Internal Trade, Anurag Jain mentioned India's vision behind the G20 Presidency and the inception of Startup20.