Stakeholders in the startup system welcomed the move, saying group will work on implementing the recommendations made over the next few years.
“We recognise that startups and MSMEs are natural engines of growth. They are key to socio-economic transformation by driving innovation and creating employment. We welcome the establishment of the Startup20 Engagement Group during India’s G20 presidency and its continuation,” the declaration said.
The engagement group had formed three task forces under it—foundation and alliances, finance, and inclusion and sustainability—and was chaired by Chintan Vaishnav, mission director of Niti Aayog’s flagship entrepreneurship initiative, Atal Innovation Mission.
Peak XV Partners MD Rajan Anandan, who was also the cochair of the finance taskforce, said one of the most significant recommendations is that every G20 nation should invest 1% of their GDP into startups by 2030.
