India to pitch for $1 trillion investment to enhance global start-up ecosystem

New Delhi, June 28 (KNN) India is likely to propose G20 members for raising USD 1 trillion in annual investments for the global start-up ecosystem by 2030, reported PTI. 

Startup20 India chair Chintan Vaishnav said that the Startup20 Engagement Group, under India’s Presidency will press delegates from across the world to pump up annual investments at the upcoming Startup20 Shikhar summit scheduled later next month in Gurugram.

The Minister said that the move will enable start-ups to emerge as the true engine of economic growth globally.

He also pitched for developing a common framework to define start-ups to attract talent and investments.

"We want to harmonise the global ecosystem while retaining the autonomy of local or national ecosystems. We have realised that having a single definition for start-ups is not a practical idea but having a framework for people to choose from, given their legacy and interests is the way to go," he said.

At the upcoming meeting, the group will also propose ideas to create new frameworks across areas such as governance and due diligence to enable G20 members to build consensus on evaluating start-ups globally in a common way. 

The group will also seek to create channels to solve pain points such as finance, access to the market and talent for upcoming start-ups.

It will also work on ways to ensure that start-up ecosystems globally are inclusive for under-represented groups and communities.   (KNN Bureau)