G20-Startup20 inception meeting opens today in Hyderabad

The new engagement group of G20 initiated by India to create a global narrative for supporting startups, fostering synergies among various stakeholders

January 27, 2023 11:37 pm | Updated 11:37 pm IST - HYDERABAD

A two-day inception meet of Startup20, the new engagement group of G20 initiated by India, is all set to get under way in Hyderabad from January 28.

One of the initiatives of India after assuming G20 presidency, Startup20 has been mooted to serve as a forum for startups as also to create a global narrative for supporting startups and enabling synergies between the various stakeholders of the ecosystem. The primary objective of the engagement group is to harmonise the global startup ecosystem through a collaborative and forward-looking approach.

Briefing media here on Friday, G20 Sherpa Amitabh Kant, Secretary to DPIIT Anurag Jain and Startup20 India Chair Chintan Vaishnav said while the Startup20 activities are being kicked off with the meeting in Hyderabad, the summit event will be held in July in Gurugram. In the intervening period, an event will be organised in Sikkim, Andaman and Bengaluru.

The group is poised to provide a common platform for startups from G20 member countries to develop actionable guidance in the form of building of capacities, identification of funding gaps, enhancement of employment opportunities, achievement of SDG targets and climate resilience and growth of an inclusive ecosystem, an official release.

Foundations and alliances, finance, and inclusiveness and sustainability will be the three main taskforces of Startup20. The emphasis is to address challenges, develop policy frameworks to ease startup financing and to encourage cross-country collaborations. Besides the G20 countries, the event will also have participants from observer nations. About 80 overseas delegates and 100 from India, including incubators, startups, investors, and industry partners, among others, are expected at the meeting.

Besides the official policy communique, the key deliverables of Startup20 will consist of a startup handbook with a set of commonly agreed upon definitions and terminologies, a global innovation centre to foster collaborations across borders and promotion of Startup20 as a Global Point of Contact for startup ecosystems worldwide.

In Hyderabad, figuring in the schedule of the delegates will be a visit to T-Hub and Golconda Fort and Falaknuma. A showcase of the rich culture of the State is also on the itinerary.

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