India handed over the chairmanship of the G-20 meeting to Brazil for the year 2024
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The Startup 20 Summit organized by the Startup 20 Engagement Group under the India G20 chairmanship concluded successfully in Gurugram. At the closing ceremony, the official torch was handed over to Brazil, the next G20 Presidency country.
Brazil will host the G20 annual meeting of heads of state and prime ministers in 2024 for the first time. Brazil, Latin America's largest economy, represents the region in the G20, along with Argentina and Mexico.
Earlier Gurugram hosted the G20 Anti-Corruption and Agriculture Working Group meetings in March 2023. The founding meeting of Startup20 was held on 28 and 29 January 2023 in Hyderabad, the second meeting on 18 and 19 March 2023 in Gangtok, Sikkim, and the third meeting on 3-4 June 2023 in Goa.
Startup 20 President Dr. Chintan Vaishnav emphasized the importance of the specific action points mentioned in the policy communique officially released during the summit.
Key point
During the closing ceremony of the summit, HRH Prince Fahd bin Mansour of Saudi Arabia spoke and supported Startup20's call to allocate an ambitious amount of $1 trillion per year to the startup ecosystem by 2030.
Also creating a definition framework for startups. To establish network institutions to support and provide resources, mentorship, and guidance to startups. Access to capital includes exploring new funding mechanisms, venture capital, and angel investment to fuel growth and development.
