According to official reports, the highly anticipated StartUp20 engagement group meeting reached its culmination on Sunday in the vibrant city of Goa. During this gathering, top officials revealed a resounding call of action directed toward G20 nations. Their collective plea was to allocate a staggering $1 trillion in investments toward bolstering and nurturing startup ecosystems worldwide by the year 2030.

This significant event brought together key stakeholders, decision-makers, and industry leaders from various sectors within the startup community. With a shared vision for fostering innovation, the participants deliberated on strategies to accelerate the growth and sustainability of startups on a global scale.

Dr. Chintan Vaishnav, chairperson of the StartUp20 Engagement Group, informed reporters that the two-day meeting in Goa concluded on a positive note with all participating delegations agreeing on the policy communiqué drafted during the conference.

He stated, "The communique would be adopted during the Gurugram meeting scheduled next month. We have put out a call for action for G20 countries to allocate USD one trillion for startup ecosystems by the year 2030,"

According to Vaishnav, this marked the third meeting of the engagement group, following the previous two sessions held in Hyderabad, Telangana, and Sikkim.

'"We also put out the policy communique on the StartUp20 webpage for people's reactions. This is a real example of 'jan bhagidari' (people's participation). The draft policy communique has recommendations for five task forces, namely foundations, alliances, finance, inclusion and sustainability," he added.

According to Vaishnav's statement, the participants reached a consensus on five key actions during the meeting. These actions encompassed the creation and adoption of a defined framework for startups, the establishment of a network institution dedicated to supporting startups and their ecosystems across G20 nations, the endeavor to enhance and diversify access to capital, the facilitation of market access, with a specific focus on underrepresented communities, and the development of the capability to scale startups of global significance.

Image source: Deccan Herald