The Finance Task Force of the Startup20 Engagement Group, which will meet this weekend in Sikkim, will aim to increase access to capital for startups by providing financing and investment platforms, according to an official statement.
It further said the task force will also harmonise tax and legal regulations to encourage public investment in startup funding and interact with the foreign investor ecosystem of G20 nations. It will create pitching, capacity building and networking opportunities for startups with the global investor community through a best practices document on startup investments, the statement added.
The second meeting of the Startup20 Engagement Group, newly formed under India’s G20 Presidency, will take place in Gangtok, Sikkim on March 18 and 19, 2023. The Sikkim Sabha will forward the agenda finalised during the inception meeting held in Hyderabad on January 28-29, 2023, with the support of all attendee delegates. During the inception meeting, the objectives, and deliverables of the three task forces, namely Foundation and Alliances, Finance, and Inclusion and Sustainability were reworked to incorporate suggestions from all the delegates.
According to the statement, the Foundation and Alliances Task Force will work to harmonize the global startup ecosystem through consensus-based definitions. “It will set up a global knowledge repository/ hub for startups that would showcase and share best practices within G20 countries,” the statement said. It also added that the task force will also create bilateral and multilateral collaborations with governments, policymakers, academic and research institutes, industry associations and international organizations with startups including those focusing on sustainable development goals (SDGs).
As per the statement, the Inclusion and Sustainability Task Force will identify the speci?c needs of startups/entrepreneurs led by women, PwDs, LGBTQ+, minorities, other groups; and support them through access to market and ?nancial resources. The task force will also promote and support startups working towards the SDGs in terms of focused investment, incubation and mentorship support. At the Sikkim Sabha, the task force members (comprising delegates from the G20 nations) of the Startup20 Engagement Group will be discussing and deliberating on the first draft of the official policy communiqu .
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