Union Minister for Commerce besides Industry Piyush Goyal on Saturday called for the creation of an international grid of mentors, investors, and entrepreneurs to strengthen the international start-up ecosystem.
In a video talk at the Inception Meeting of the Start-up 20 Engagement Group of G20 here, he said this network must provision and inspire start-ups, act as a team to facilitate the exchange of ideas, best performs and funding mechanisms, and promote collaborations in research besides development.
He said it is not just the character of individual nations to support innovation and added that it will have to be the cooperative responsibility of world nations to nurture a global effort to incubate startup ecosystems in all portions of the world.
Goyal said India was satisfied to highlight the progress and potential of the global start-up ecosystem as the host nation of G20. He is well-known that the Startup20 Group had been established under India’s G20 Position for the first time, as part of India’s special focus on innovation.
Observant that innovation would be the strongest pillar that would help build a developed India in the ‘Amritkaal’, he said novelty has been a catalytic force for the economy and community and public good.
He said India was obligated to begin its start-up journey with the foundation laid by Prime Minister Narendra Modi in 2016 with the introduction of the Start-up India Initiative. In the last seven years, it had helped in fostering private enterprise and promoting newer and newer ideas, helping start-ups grow by generating an ecosystem that is conducive for growth, an official issue said.