Union Commerce and Industry Minister Piyush Goyal on Saturday called for building an international network of mentors, investors and entrepreneurs to strengthen the global start-up ecosystem.
In a video address to the inception meeting of the G20’s Start-up 20 Engagement Group here, he said the network should support and inspire start-ups, provide a platform for exchange of ideas, best practices and facilitate funding mechanisms. Must work as a team and foster collaboration. in research and development.
He said that it is not only the role of individual nations to support innovation and added that it should be the collective responsibility of world nations to nurture the global effort to develop start-up ecosystems in all parts of the world.
It creates a global start-up ecosystem that is inclusive, supportive and sustainable to address global challenges. Goyal said India As the host nation of the G20, proud to highlight the progress and potential of the global start-up ecosystem.
He said that as part of India’s special focus on innovation, the Startup20 group was set up for the first time under India’s G20 presidency. Noting that innovation will be the strongest pillar that will ‘help build a developed India in the world’amrit kaal‘, he said, adding that innovation has been a driving force for the economy and social and public good. “Innovation in today’s world goes beyond merely achieving economic objectives as it also considers social inclusion and environmental sustainability,” he added.
He said that India started its start-up journey with the foundation laid by the Prime Minister Narendra Modi With the launch of the Start-up India Initiative in 2016.
Over the past seven years, it has helped foster entrepreneurship and foster new and innovative ideas, helping start-ups grow by creating a conducive ecosystem for growth, said an official release. He said that the capabilities of our start-ups in various sectors including energy, financial inclusion, fight against COVID-19 pandemic have helped us overcome many challenges when remote healthcare and food delivery became very important.
Goyal, who said that the world is facing several global challenges ranging from climate change to poverty and inequality, expressed confidence that innovation can pave the way to solve these problems. He said that in the Indian start-up context, entrepreneurs are using their creativity and ingenuity to tackle these challenges. He cited examples of digital public goods such as Cowin and UPI as a means to tackle the problems and ensure inclusive growth in India. He also highlighted that India has moved up to 40th position in WIPO’s Global Innovation Index (GII), a huge jump of 41 places in seven years.
He gave the mantra of ‘Sense’ for the growth of start-ups – Share, Explore, Nurture, Serve and Empower. He expressed confidence that the discussions during the meeting in Hyderabad will lay the foundation for strong, actionable recommendations for the G20 leaders to deliberate and initiate a global start-up revolution, thereby shaping the future of start-ups around the world. Will help in bringing change. ,
The Startup 20 Engagement Group has been set up under the G20 Presidency of India. Union Tourism Minister G Kishan Reddy, Union Minister of State for Commerce Som Prakash, G20 Sherpa Amitabh Kant, NITI Aayog CEO Parameswaran Iyer attended the inaugural session.
G20 Sherpa Amitabh Kant later told reporters that whatever Startup20 decides will be a very important component of the final release.
Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade, said that since the launch of the start-up initiative in January, 2016, India’s ecosystem has become the third largest in terms of unicorns, startup ecosystem in the world.
Importantly, he said, the number of new unicorns is second and the number of new start-ups is the highest.
Startup20 has three different tracks, namely, Foundations and Alliances, Finance and Inclusivity and Sustainability.
The Inception meeting in Hyderabad will be followed by three track meetings in Sikkim, Andaman Nicobar and Bengaluru. The summit will be held in Gurugram.
“That is the overall plan. Hopefully, we will be able to extract something that will be able to create a framework for finding solutions to global problems to drive the global ecosystem.”
read all latest business news Here
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)