Piyush Goyal urges the world to come together to support startups
Highlighting the creation of the startup20 group under India’s G20 Presidency as part of the focus on innovation in New Delhi, Goyal said that this network will provide the necessary support for the startup act, a team facilitating the exchange of ideas, best practices and funding mechanisms.
Amid rising global challenges, Union Minister Piyush Goyal has urged the world to come together to support the start-up ecosystem, facilitating global incubation in the first place. Goyal was speaking at the inaugural session of the G20 Start-up 20 Engagement Group kick-off meeting in Hyderabad on Saturday.
He added that the global start-up ecosystem must be inclusive, supportive and sustainable to address global challenges and that building an international network of mentors, investors and entrepreneurs will strengthen it.
Highlighting the creation of the Startup-20 group under India’s G20 Presidency as part of the focus on innovation in New Delhi, Goyal said that this network will provide the necessary support for the start-up action, a team facilitating the exchange of ideas, best practices and funding mechanisms.
He pointed out that innovation would be the strongest pillar, creating a key role for India’s developed goal in ‘Amritkaal’. The Minister further added that innovation at present is about going beyond mere economic significance, as it also includes societal inclusion and environmental sustainability.
He pointed to start-ups as an important focus of the central government, adding about the Prime Minister’s Startup India initiative which was launched in 2016 and has helped the country develop new businesses.
He pointed to 21 start-ups that became unicorns last year, compared to less than 44 in 2021. But a higher number compared to China which scored only 7 start-ups became unicorns.
