Brazil to continue Startup20 initiative with G20 presidency in 2024

New Delhi, July 7 (KNN) India has officially handed over the torch to Brazil which has committed to continue the Startup20 initiative in 2024 as next G20 presidency country. 

The Startup20 Shikhar Summit, organized by the Startup20 Engagement Group under the India G20 Presidency, concluded successfully in Gurugram. 

This two-day summit served as a platform for fostering innovations, collaborations, knowledge sharing, and strategic alliances within the global start-up ecosystem. 

The closing ceremony saw the official torch handover to Brazil, the next G20 presidency country, which committed to continuing the Startup20 initiative in 2024.

Dr. Chintan Vaishnav, Chair of Startup20, emphasized the importance of specific action points outlined in the Policy Communiqué, which was officially released during the summit. 

The G20 countries will work towards creating and adopting a comprehensive definition framework for start-ups, providing clarity and consistency in identifying and supporting them.

A networked institution will be established to support start-ups and ecosystem stakeholders across the G20 countries. This collaborative effort aims to provide resources, mentorship, and guidance to start-ups.

Efforts will be made to increase and diversify access to capital for start-ups. This includes exploring new funding mechanisms, venture capital, and angel investments, to fuel their growth and development.

Market regulations will be reviewed and streamlined to create a favourable environment for start-ups. Removing unnecessary barriers and simplifying compliance procedures will encourage innovation and entrepreneurship.

The G20 countries will prioritize the inclusion of underrepresented communities within the start-up ecosystem. This initiative aims to promote diversity, equality, and opportunities for all aspiring entrepreneurs.
 
KNN Bureau