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Creating an international network of mentors, investors and entrepreneurs to strengthen the global startup ecosystem, said Piyush Goyal, Labor Minister for Commerce, Consumer Affairs, Food and Public Distribution, Textiles.
At the inaugural session of the G20’s Startup 20 Engagement Group in Hyderabad, Goyal said the network will support and inspire startups, working as a team to exchange ideas, best practices and funding mechanisms. and promote collaboration in research. and development.
It is not just the role of individual countries to support innovation, the minister said, adding that it is the joint responsibility of the nations of the world to foster a global effort to foster startup ecosystems in all regions of the world. I added that there is a need. A comprehensive, supportive and sustainable startup ecosystem to meet 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.
He said innovation is economic and social and public interests. “Innovation in today’s world Beyond Mere Economic Achievement A goal because it also considers social inclusion and environmental sustainability. ”
The Minister confirmed that India launched the Startup India Initiative in 2016 to lay the cornerstone and start the startup journey. He said he has spent the past seven years helping startups grow and thrive by fostering an entrepreneurial spirit, fostering increasingly new ideas, and creating an ecosystem conducive to growth.
He will help us understand the capabilities of our startups in various areas such as energy, financial inclusion, areas where fintech has played a key role, and fighting the pandemic when telemedicine and food delivery have become very important. added that it is in online learning. Today, working in agritech has become very natural and I have been able to face many challenges.
Goyal noted that the world faces many global challenges, from climate change to poverty and inequality. He expressed his firm belief that innovation can pave the way to solving these problems. The minister said that in the context of Indian startups, entrepreneurs are tackling these challenges head-on with their creativity and ingenuity. He cited examples of digital public goods such as Corwin, UPI and ONDC as a means to tackle the problem by redefining social his innovation and ensuring inclusive growth in India.
The minister said rising participation from tier 2 and tier 3 markets, which are rapidly adopting the latest technologies, is pushing the boundaries for local Indian startups with new ideas to succeed. .
He said India is looking to transfer our expertise through the G-20, so IndiaStack will become GlobalStack to help transform the way people use technology and bring technology to the common people. increase. He added that developing countries must transform themselves from being destinations for low-cost outsourcing software and support his services to becoming global technology and innovation hubs. 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.
Startup 20 will be attended by representatives from G20 countries and 9 specially invited guests from observer countries, representatives from multilateral organizations and representatives from India’s startup ecosystem. Formed under the G20 after India took office as president, the group will hold its inaugural meeting from 28-29 January to make policy recommendations on entrepreneurship and innovation priorities for the G20 countries and across the G20 countries. We look forward to the productive development of The conference creates a global narrative to support start-ups and foster synergies between start-ups, companies, investors, innovation institutions and other key ecosystem stakeholders.
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