Startup20 Gurugram summit ends as India passes torch to Brazil

Saudi Arabia becomes first country to extend support towards $1 Trillion milestone for global startups


Gurugram: The Startup20 Summit, organized by the Startup20 Engagement Group under the India G20 Presidency, concluded here on Tuesday with overwhelming success. This two-day summit served as a platform for fostering innovations, collaborations, knowledge sharing, and strategic alliances within the global startup ecosystem.

During the closing ceremony, Chair of Startup20 Chintan Vaishnav handed over the torch to Brazil, as the country has G20 presidency for the next year and has committed to continue the Startup20 initiative in 2024. This continuations of Startup20 with the Brazil presidency a true success for the group and a milestone in the advancement of startup ecosystem worldwide.

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Highlighting the importance of Startup20, Saudi Arabia, represented by HRH Prince Fahad Bin Mansoor, emerged as the first country to endorse and support the Startup20’s call to allocate an ambitious sum of $1 trillion per annum into the startup ecosystem by 2030.

HRH made this announcement during his address at the Gurugram Shikhar Summit, recognizing the potential of startups in making startups a true force for the global good.

In his address, Chintan hailed this announcement as a momentous occasion at the Startup20 Gurugram Summit, underscoring Saudi Arabia’s steadfast dedication to fostering global innovation and entrepreneurship.

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He asserted, “By pledging support for the $1 trillion funding milestone, Saudi Arabia sets a precedent for other nations to follow, demonstrating their commitment to driving a disruptive innovation ecosystem and propelling the economic growth.

The Startup20 Gurugram Summit serves as a critical platform for startup ecosystem, ecosystem builders, industry experts, Government, policymakers, and thought leaders to collaborate and shape the trajectory of startups on a global scale.

The Policy Communiqué sets the direction for G20 countries to scout promising startups intensively, fund them collaboratively, mentor them contextually and scale them globally.

Beside, the Startup20 Gurugram summit also showcased some of the outstanding national and international startups showcases. The event also marked a vibrant evening of cultural showcases and performances.

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