India has third highest number of startups in the world: Union Minister G Kishan Reddy
- ByStartupStory | January 28, 2023
Speaking at the first Inception Meet of Startup20 in Hyderabad on Saturday, Union Minister G Kishan Reddy said that India had the third-highest number of startups in the entire globe.
“Our youths want to become job creators instead of job holders. The success of Indian startups shows our youths’ passion,” G Kishan Reddy said.
Amitabh Kant, G20 Sherpa at the inaugural session said, “Startups of today are solving problems of education, health, agricultural productivity etc for one billion people for India and also for the world.”
Kant added that creating a bank account today only takes a minute thanks to biometrics, whereas in the past it took 8 to 9 months in India.
“For last 4 years, we do more fast payments compared to US, Europe and China,” Kant added.
As part of the G20 India Presidency, a new Engagement Group called Startup20 has been formed. According to an official press release from Startup20 PRO, Startup20 intends to create a worldwide narrative for assisting startups and promoting synergies between startups, companies, investors, innovation agencies, and other important ecosystem members.
The main goal is to unify the global startup ecosystem through a cooperative and forward-thinking strategy.
According to the official statement, the goal of this group is to give startups from G20 member countries a common forum to collaborate on the development of actionable guidance in the areas of enhancing enabler capacities, identifying funding gaps, improving employment opportunities, achieving SDG targets and climate resilience, and developing an inclusive ecosystem.
The Startup20 events will take place across five days.
The summit event will take place in Gurugram in July 2023, with three events scheduled in between in various locations throughout India.
The G20 nations as well as 9 foreign observers are among the participating nations. There should be about 80 delegates. According to the press release, 100 Indian delegates are anticipated, including incubators, startups, investors, and industry partners.
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