Measures aim to foster a conducive environment that empowers startups to innovate, grow, and address global challenges…reports Asian Lite News
The second day of the Startup20 Engagement Group meeting in Goa witnessed crucial discussions and meetings aimed at strengthening collaboration and aligning efforts towards the growth and support of startups globally, a press release said on Sunday.
The program commenced with closed-door meetings between national and international delegations and Chintan Vaishnav, Chair of Startup20, focusing on key agendas and strategic partnerships. During the press conference held later in the day, Vaishnav addressed the media, highlighting the progress made and the significance of the Policy Communique.
He expressed his satisfaction with the agreement reached by all delegates on the Communique, marking a pivotal moment in the journey of the G20 nations towards fostering startup ecosystems worldwide.
Vaishnav emphasized the collective efforts and extensive consultations undertaken with G20 nations to arrive at this crucial juncture.
In his statement, Chintan Vaishnav underscored the importance of specific action points outlined in the Communique.
The key action points include the creation and adoption of a defined framework for startups, creating a network institution to support startups and ecosystem stakeholders across G20, increasing and diversifying access to capital, easing market regulations for startups, and prioritizing the inclusion of underrepresented communities within the startup ecosystem as well as the scaling up startups of global interest. These measures aim to foster a conducive environment that empowers startups to innovate, grow, and address global challenges effectively,” the statement said.
Vaishnav also made a significant call to action, urging G20 countries to unite in their commitment to the startup ecosystem. “He proposed allocating a substantial sum of 1 trillion dollars for the startup ecosystem by 2030,” the statement said.
The day ended on a positive note, with delegates expressing their enthusiasm and commitment to realizing the goals outlined in the Policy Communique. “The agreement signifies the confidence of the Startup20 community in scouting startups globally, funding them collaboratively, mentoring them contextually, and scaling them internationally. The G20 nations have taken a significant stride forward in their mission to nurture and support startups, setting the stage for a vibrant and thriving global startup ecosystem,” the statement added.
The Startup20 Engagement Group of the G20 concluded with success here in Goa Sankalpana, with an atmosphere of unwavering energy and determination, it added.
Amidst the discussions on driving global startup ecosystem growth and innovation, all the delegates took a moment to extend their heartfelt condolences for the train accident that occurred in Odisha.
“They expressed their deep sympathies and solidarity with the affected families and the entire nation. Recognizing the importance of supporting and uplifting communities during difficult times, the delegates emphasized the need for collective efforts to ensure safety and security in all aspects of life, including transportation infrastructure,” the statement added.
The summit meeting of Startup20 Engagement Group is slated to happen in July at Gurugram on July 3rd and 4th. (ANI)
‘India giving everyone chance in G20’
India did a great job in putting together the recommendations of everyone and giving everyone the chance to collaborate and share their suggestions, Prince of Saudi Arabia Fahad Bin Mansour Bin Nasser Bin Abdulaziz Al-Saud on G20-StartUp20 Engagement Group meeting in Goa on Sunday.
He said that it is high time we need to have awareness about startups, and entrepreneurs’ contribution to the economy and the support that they need. “Our presence today is to learn from the best practices of other nations. We believe that the Indians did a great job in putting together the recommendations and giving everyone the chance to collaborate and share their suggestions and recommendations,” Al Saud said.
“We have had a fruitful and smooth discussion that led us to where we are today,” he added.
Responding to a question on how is the ecosystem back in Saudi Arabia, the Saudi Arabian Prince said that there is a lot to be said about that.
“There is a lot to be said but if would like to focus on remaining things… today, whenever you need support an ecosystem it has to be done from all sides. The Government side, the public sector, the private sector as well as the society. so You need to have a lot of awareness about the startups, and entrepreneurs’ contribution to the economy and the support they need,” he said.
“I think that if all the parts are aware, and they are putting in the efforts, this would lead to great results and thats what happened in Saudi,” he said. (ANI)