g20 presidency: Startup20 Group for raising annual investments in global startups ecosystem to $1 trillion by 2030

“This group concurred that they will call on the G20 leaders to raise their annual investment in the global startups ecosystem to a trillion dollars by 2030,” Startup20 India Chair and Mission Director Atal Innovation Mission, Niti Aayog, Chintan Vaishnav told reporters here.

He said that increasing investments would help make startups a true engine of economic growth globally.

Briefing media about the summit meeting, he said India is hosting global startups in such a large scale.

On a common framework to define startups in the G20 countries, Vaishnav said the framework has five components.

These components are “what kind of legal entity or startup is this, what is the age of this startup, size, scalability of the startup, and what is the innovation in the startup,” he said.

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A common framework to define these entities would help attract talent and investments. “We want to harmonise the global ecosystem while retaining the autonomy of local or national ecosystems. We have realised that having a single definition for start-ups is not a practical idea but having a framework for people to choose from, given their legacy and interests is the way to go,” Vaishnav added.

Under India’s G20 presidency, Startup20 serves as a prime opportunity to foster collaboration, exchange ideas, and shape the future of startups and entrepreneurship on a global scale.

In the summit meeting, over 700 startups from different G20 members are expected to participate.

“In the last meeting in Goa, 95 per cent of the communique was agreed right there. We would now submit the communique to the world leaders,” he said.

The group, he said, is proposing ideas along four dimensions which includes to create and embrace some common definitional framework, governance framework, and due deligence framework.

It would help the members to understand and evaluate startups globally in some common ways.

In the Gurugram meeting, he said “we will proposes ways to create channels across these ecosystems of the world so that finance, access to market, access to talent becomes easier for startups”.

The group will also talk about best ways to make startups ecosystem inclusive for under-represented groups and communities.

Besides, it would discuss ways to identify budding enterprises that have global interests so that countries can support them and make them global.

“To do all of these, we will discuss how there can be a globally networked institutions that can implement these ideas, so that we can scout startups internationally, invest in them collectively, mentor them, and scale them globally,” Vaishnav said.

In the summit meeting, the group will officially release the final policy communique, which may find a place in the leaders’ communique in September.

The communique will lay the foundation for a transformative and inclusive startups ecosystem, fostering economic growth, innovation, and cross-border collaboration.

In addition to the discussion on building a global startups ecosystem, the summit will host a large conclave, where startups will not only showcase their products and services but will engage in investor pitches, mentoring sessions, and other networking opportunities.

The Startup20 Engagement Group operates under the India G20 Presidency, aiming to shape the future of the global startup ecosystem.

“This group concurred that they will call on the G20 leaders to raise their annual investment in the global startups ecosystem to a trillion dollars by 2030,” Startup20 India Chair and Mission Director Atal Innovation Mission, Niti Aayog, Chintan Vaishnav told reporters here.

He said that increasing investments would help make startups a true engine of economic growth globally.

Briefing media about the summit meeting, he said India is hosting global startups in such a large scale.

On a common framework to define startups in the G20 countries, Vaishnav said the framework has five components.

These components are “what kind of legal entity or startup is this, what is the age of this startup, size, scalability of the startup, and what is the innovation in the startup,” he said.

Discover the stories of your interest

A common framework to define these entities would help attract talent and investments. “We want to harmonise the global ecosystem while retaining the autonomy of local or national ecosystems. We have realised that having a single definition for start-ups is not a practical idea but having a framework for people to choose from, given their legacy and interests is the way to go,” Vaishnav added.

Under India’s G20 presidency, Startup20 serves as a prime opportunity to foster collaboration, exchange ideas, and shape the future of startups and entrepreneurship on a global scale.

In the summit meeting, over 700 startups from different G20 members are expected to participate.

“In the last meeting in Goa, 95 per cent of the communique was agreed right there. We would now submit the communique to the world leaders,” he said.

The group, he said, is proposing ideas along four dimensions which includes to create and embrace some common definitional framework, governance framework, and due deligence framework.

It would help the members to understand and evaluate startups globally in some common ways.

In the Gurugram meeting, he said “we will proposes ways to create channels across these ecosystems of the world so that finance, access to market, access to talent becomes easier for startups”.

The group will also talk about best ways to make startups ecosystem inclusive for under-represented groups and communities.

Besides, it would discuss ways to identify budding enterprises that have global interests so that countries can support them and make them global.

“To do all of these, we will discuss how there can be a globally networked institutions that can implement these ideas, so that we can scout startups internationally, invest in them collectively, mentor them, and scale them globally,” Vaishnav said.

In the summit meeting, the group will officially release the final policy communique, which may find a place in the leaders’ communique in September.

The communique will lay the foundation for a transformative and inclusive startups ecosystem, fostering economic growth, innovation, and cross-border collaboration.

In addition to the discussion on building a global startups ecosystem, the summit will host a large conclave, where startups will not only showcase their products and services but will engage in investor pitches, mentoring sessions, and other networking opportunities.

The Startup20 Engagement Group operates under the India G20 Presidency, aiming to shape the future of the global startup ecosystem.