Startup20 of G20 to hold its second meeting in Gangtok

Gangtok: The Startup20 Engagement group, formed under India's G20 Presidency, will hold its second meeting in Gangtok, Sikkim on March 18 and 19. The meeting will be attended by delegates from G20 member and invitee countries, as well as representatives from multilateral organizations and stakeholders from the Indian startup ecosystem.

Dr. Chintan Vaishnav, the Startup20 Chair, stated that the meeting in Sikkim will provide a unique opportunity to showcase the growing startup ecosystem of North East India.

During the meeting, the delegates will discuss the agenda that was finalized during the inception meeting held in Hyderabad in January. The objectives and deliverables of the three task forces - Foundation and Alliances, Finance, and Inclusion and Sustainability - were reworked to incorporate suggestions from all the delegates.

The Foundation and Alliances Taskforce aims to harmonize the global startup ecosystem through consensus-based definitions, create bilateral and multilateral collaborations, and recommend supportive policies for industry players and government organizations to work with startups. It will also create mechanisms for global access to markets and talent for startups operating in G20 nations.

The Finance Taskforce aims to increase access to capital for startups by providing financing and investment platforms, harmonizing tax and legal regulations, and creating pitching, capacity building, and networking opportunities for startups with the global investor community.

The Inclusion and Sustainability Taskforce will identify the specific needs of startups/entrepreneurs led by women, Person with Disabilities, Lesbian Gay Bisexual Transgender Quuer+, minorities, and other groups. It will support them through access to markets, financial resources, training, and government-led support schemes. It will also promote/support startups working towards the SDGs and encourage startups to adopt sustainable business models for their long-term profitability.

At the meeting in Sikkim, the taskforce members will discuss and deliberate on the first draft of the official policy communiqué. The expected outcomes of Startup20 are the official Policy Communique, a Startup Handbook with a set of commonly agreed upon definitions and terminologies, a Global Innovation Centre to foster collaborations across borders, and promotion of Startup20 as a Global Point of Contact for startup ecosystems worldwide. The event will also host a variety of side events, Startup20X events, startups showcase at MG Marg, and delegates visit to the Rumtek Monastery.

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