G20 countries join forces to foster growth of global startup ecosystem at 3rd Startup20 meeting

The Startup20 engagement group met in Goa for crucial discussions aimed at strengthening collaboration and aligning efforts to develop and support startups around the world.

The programme began with private meetings of national and international delegations with Chintan Vaishnav, chairman of Startup20. The meetings discussed key issues on the agenda and strategic partnerships.

During a press conference later in the day, Vaishnav addressed the media, highlighting the progress made and the importance of the political communiqué. He expressed satisfaction that all the delegates agreed on the communiqué, which was a turning point in the G20 countries' journey towards developing startup ecosystems globally.

Vaishnav highlighted the collective efforts and extensive consultations undertaken by the G20 countries to arrive at this turning point.

In his remarks, the chairman of Startup20 stressed the importance of the specific action points outlined in the communiqué. These include adopting a framework definition of startups, creating a networking institute to support startups and ecosystem participants within the G20, increasing and diversifying access to capital, facilitating market regulation for startups, and scaling up startups of global interest. These measures are aimed at creating an enabling environment that will enable startups to innovate, grow and effectively address global challenges.

Vaishnav also issued an important call to action, calling on the G20 countries to unite in their commitment to the startup ecosystem. He proposed a significant amount of $1 trillion for its development by 2030.

The next summit of the involved Startup20 group is scheduled for 3 and 4 July in Gurgaon, as reported by ANI, a partner of TV BRICS.

Photo: istockphoto.com