Union Minister for Commerce and Industry, Consumer Affairs and Textiles Piyush Goyal has called for the creation of an international network of mentors, investors, and entrepreneurs to strengthen the global start-up ecosystem.
He said that this network must support and inspire start-ups, act as a team to facilitate the exchange of ideas, best practices, funding mechanisms and promote collaborations in research and development.
“It is the collective responsibility of the world to create an inclusive, supportive and sustainable start-up ecosystem to address global challenges,” the Minister said.
Addressing the inaugural of inception meeting of the Start 20 Engagement Group of G20 nations virtually, he felt that the developing nations must transform themselves from being destinations for low-cost, outsourced software and support services, to become global technology and Innovation hubs.
Collective responsibility
Goyal said that it was the collective responsibility of world nations to nurture a global effort to incubate start-up ecosystems in all parts of the world. It would help create a global start-up ecosystem that was inclusive, supportive and sustainable to address global challenges.
Stating that India was trying to transfer India’s expertise through G20, he said the IndiaStack would be GlobalStack, transforming the way people use technology and helping take technology to the common man.
The two-day Startup20 inception meeting kickstarts a series of events with an aim to create a global narrative for supporting start-ups and enable synergies between start-ups, corporates, investors and other key stakeholders.
The delegates, who represent the G20 nations, had a peek view into T-Hub, a start-up ecosystem enabler promoted by the Telangana Government.
