G20 To Take Actions By Investing $1 Trillion In Nurturing The Startup Ecosystem

The StartUp20 engagement group meeting in Goa concluded on Sunday with a call to action for G20 nations to invest $1 trillion in startup ecosystems by 2030, according to a top official.

Dr Chintan Vaishnav, chair of the StartUp20 Engagement Group, told reporters that the two-day meeting in Goa ended on a positive note, with all participating delegations agreeing on the policy communique drafted during the conference.

"The communique will be adopted at the Gurugram meeting next month." "We have issued a call to action to the G20 countries to allocate USD one trillion to start-up ecosystems by 2030," he said.

This was the third meeting of the engagement group, with the first two rounds held in Hyderabad, Telangana, and Sikkim, respectively. Vaishnav said.

'"We also posted the policy communique on the StartUp20 website to gauge public reaction. This is a true example of 'jan bhagidari' (public participation). "The draught policy communique includes recommendations for five task forces: foundations, alliances, finance, inclusion, and sustainability," he explained.

The five actions agreed upon by the participants were to develop and implement a definition framework for start-ups, establish a network institution to support start-ups and the start-up ecosystem across G20 nations, increase and diversify access to capital, ease market access and emphasise the inclusion of underrepresented communities, and develop the ability to scale start-ups of global interest, according to Vaishnav.