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On Saturday, Trade and Industry Minister Piyush Goyal called for building an international network of leaders, investors and entrepreneurs to strengthen the global startup ecosystem.
In a video address to the G20’s Startup 20 Engagement Group Inception meeting here, he said the network will support and inspire startups, act as a team to facilitate the exchange of ideas, best practices and funding mechanisms, I said we need to foster collaboration. Under research and development.
He said that it is not just the role of individual countries to support innovation, and that fostering a global effort to foster startup ecosystems in all regions of the world is a joint responsibility of the nations of the world. I added that I must.
This will create an inclusive, supportive and sustainable global startup ecosystem to address global challenges.
Goyal said India is proud to host the G20, highlighting the progress and potential of the global startup ecosystem. He said the Startup20 group was established for the first time under India’s G20 presidency as part of India’s special commitment to innovation.
Observing that innovation will be the strongest pillar that will help build a developed India in ‘Amritkar’, he said innovation is a catalytic force for economic and social and public good. rice field.
“Innovation in today’s world goes beyond just achieving economic goals because it also considers social inclusion and environmental sustainability,” he added.
He said India began its startup journey with the foundation laid by Prime Minister Narendra Modi in 2016 when he launched the Startup India Initiative. Over the past seven years, it has fostered an entrepreneurial spirit, helped foster more and more new ideas, and helped startups grow by creating an ecosystem that conducive to growth, the official release said.
At a time when telemedicine and food delivery have become so important, the capabilities of start-ups in various sectors such as energy, financial inclusion and fighting the COVID-19 pandemic have helped us face many challenges. he said.
Mr. Goyal noted that the world faces many global challenges, from climate change to poverty and inequality, and expressed his belief that innovation can lead to solutions to these problems. Did.
He said that in the context of Indian start-ups, entrepreneurs are using their creativity and ingenuity to meet these challenges. He cited examples of digital public goods such as Cowin and his UPI as a means of tackling the problem and ensuring inclusive growth in India. He also underscored that India has risen to 40th place in his WIPO Global Innovation Index (GII), a huge jump in seven years where he is 41st.
He gave the mantra of “SENSE” – Share, Explore, Nurture, Serve, Empower for Startup Growth.
He believes the discussions at the conference in Hyderabad will lay the groundwork for strong, actionable recommendations for G20 leaders to consider and initiate a global startup revolution, making a difference in the future of startups around the world. said he was confident it would help bring about .
The Startup 20 Engagement Group was established under India’s G20 presidency. Union Tourism Minister G Kishan Reddy, Trade Minister Som Parkash, G20 Sherpa Amitabh Kant and NITI Aayog CEO Parameswaran Iyer attended the first session.
G20 Sherpa Amitabh Kant later told reporters that whatever Startup20 decides will be a very major element of the final communiqué.
Industry and Domestic Trade Promotion Department Secretary Anurag Jain said the Indian ecosystem has grown to become the third largest startup ecosystem in the world in terms of unicorns since the launch of the startup initiative in January 2016. I was.
Importantly, new unicorns are the second most added, and new startups are the most added.
Startup20 has three different tracks: Foundations & Alliances, Finance & Inclusion, and Sustainability.
After the Inception meeting in Hyderabad, there will be three track meetings in Sikkim, Andaman, Nicobar and Bengaluru. The summit will be held in Gurugram.
“This is the overall plan, hopefully we can come out with something that can create a framework for driving a global ecosystem to find solutions to global problems,” he said. Told.
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