Trade and Industry Minister Piyush Goyal on Saturday called for building an international network of mentors, investors and entrepreneurs to strengthen the global startup ecosystem.
He said the network should support and inspire startups, act as a team to facilitate the exchange of ideas, best practices and funding mechanisms, and facilitate collaboration in research and development.
He was speaking at the inaugural session of the G20’s Startup 20 Engagement Group in Hyderabad.
He believes that it is not just the role of individual countries to support innovation, but also the global effort to foster startup ecosystems in all regions of the world and to create an inclusive and supportive global startup ecosystem. It is the joint responsibility of all countries to create Sustainable to meet global challenges.
Goyal said India is proud to host the G20, highlighting the progress and potential of the global startup ecosystem. He said the Startup20 group was established for the first time under India’s G20 presidency as part of India’s special commitment to innovation.
He believed that innovation would be the strongest pillar in building a developed India in Amritkar. He said innovation is a catalytic force for the economy and social and public good. “Innovation in today’s world goes beyond just achieving economic goals because it also considers social inclusion and environmental sustainability,” he said.
Goyal observed that India began its startup journey in 2016, when Prime Minister Narendra Modi launched the Startup India Initiative to lay the cornerstone. Over the past seven years, he said, he has helped startups grow and thrive by fostering an entrepreneurial spirit, helping foster more and more new ideas, and creating an ecosystem that fosters growth. .
He added that India’s startup capabilities in various sectors have helped India face many challenges, including energy, financial inclusion and fighting the pandemic.
Goyal noted that the world faces many global challenges, from climate change to poverty and inequality. He expressed his firm belief that innovation can pave the way to solving these problems.
