G20 Startup20 Engagement Group set to meet in Hyderabad

New Delhi/Hyderabad [India], January 25 (ANI): The G20 Startup20 Engagement Group will hold its inception meeting in Hyderabad on January 28-29, featuring delegates from G20 nations and nine special invitees from observer countries, representatives from multilateral organisations as well as the Indian startup ecosystem.

The Startup20 has three main taskforces — the Foundation and Alliances Taskforce, Finance, and Inclusion and Sustainability. The group formed under G20 after India assumed the presidency anticipates a productive development of policy recommendations on entrepreneurship and innovation priorities of and across G20 countries for the years ahead, the Union Commerce ministry said in a statement on Wednesday.

The statement said the meeting will create a global narrative for supporting startups and fostering synergies between startups, corporates, investors, innovation agencies, and other key ecosystem stakeholders.

Startup20 India Chair Chintan Vaishnav stated that as the world’s third-largest startup ecosystem, India is well-positioned to lead the charge in supporting innovative startups, particularly in the sectors of global importance.

The Startup20 Engagement Group will work to harmonise the global startup ecosystem through consensus-based definitions and promote a global community of knowledge sharing among startup ecosystems to explore opportunities.

“The group will also bridge the knowledge gap between the startup ecosystems of G20 member countries and emerging economies through partnerships with enablers such as incubators and government agencies,” Vaishnav was quoted as saying in the statement.

“Additionally, we aim to create supportive policies for industry players and government organizations to work with startups,” Chintan said.

Meanwhile, the Startup20 activities will span five events, starting with the inception event on January 28-29, 2023 in Hyderabad and the summit event on July 3, 2023, in Gurugram. There will be three intervening events in different parts of India.

Expected outcomes and key deliverables of Startup20 include the official Policy Communique, a Startup Handbook with a set of commonly agreed-upon definitions and terminologies, a Global Innovation Centre to foster collaborations across borders, and the promotion of Startup20 as a Global Point of Contact for startup ecosystems worldwide, the statement added.