With its mission of shaping the future of the global startup ecosystem, G20 Startup20 commenced its third meeting on June 3 in Goa. The group is the first of its kind established under India’s G20 Presidency. Startup20 recognises the vital role that startups play in driving economic growth and aims to facilitate the growth of the global startup ecosystem.

Embracing the spirit of ‘Sankalpana’, the group brings together international delegates and experienced members of the Indian startup ecosystem, aiming to foster collaboration and knowledge exchange.

In a statement, the Ministry of Commerce and Industry informed that the focal point of the meeting is to build consensus on the Draft Policy Communique. Dr Chintan Vaishnav, Chair of Startup20 Group, said, “The policy communiqué presented is a testament to our collective efforts and an unwavering commitment to an intensely consultative process. Together, we have the power to break barriers, foster inclusivity, and drive responsible innovation.”

Further, Dr. Vaishnav urged the G20 nations to actively contribute their expertise, insights, and recommendations for the communiqué and to ensure that it becomes a robust framework driving the growth and success of startups.

The major highlight of the meeting were the presentations of recommendations by various task forces responsible for shaping the policy communiqué. Rajan Anandan unveiled the Finance Taskforce recommendations and called for 1 trillion-dollar investment (1% of global GDP) in startups by 2030. In addition, Shivakiran M.S. presented the Alliance Taskforce recommendations and shared a template for building a global network of centres. The other task forces include the foundation taskforce, inclusion taskforce and sustainablity taskforce. 

Discussions on countries interventions aligned with the policy communiqué also took place in closed-door country huddles. Additionally, the India Ecosystem Meeting held a brainstorming session emphasising the crucial aspect of implementing the communiqué in the Indian startup landscape. More than 250 national and international delegates participated in the meeting, and more than 40 startups from around the country showcased their innovative products.