G20 startup group to push for $1 trillion investment in global startup ecosystem

Ahead of the Startup20 summit meeting of the startup group of G20 countries next week, the group will press for raising the annual investment in the global start-ups ecosystem to $1 trillion by 2030 from $700 billion last year.

“This group concurred that they will call on the G20 leaders to raise their annual investment in the global start-ups ecosystem to a trillion dollars by 2030,” Startup20 India Chair Chintan Vaishnav said Tuesday, adding that increasing investments would help make start-ups a true engine of economic growth.

The Group, under the India G20 Presidency, is holding its 'Startup20 Shikhar', the summit meeting on July 3-4 in Gurugram.


On a common framework to define startups in the G20 countries, Vaishnav said the framework has five components- kind of legal entity or startup is this, its age, size, scalability and innovation.

“We want to harmonise the global ecosystem while retaining the autonomy of local or national ecosystems. We have realised that having a single definition for start-ups is not a practical idea but having a framework for people to choose from, given their legacy and interests is the way to go,” he said.

In the summit meeting, over 700 startups from different G20 members are expected to participate.

“In the last meeting in Goa, 95% of the communique was agreed right there. We would now submit the communique to the world leaders,” Vaishnav said.

At the upcoming summit meeting, he said: “Ee will proposes ways to create channels across these ecosystems of the world so that finance, access to market, access to talent becomes easier for startups”.