Gangtok, March 18: The Finance Task Force of the Startup20 Engagement Group, meeting in Sikkim this weekend, will aim to improve access to capital for startups by providing financing and investment platforms, according to an official statement.
In addition, he said the task force will also harmonize tax and regulatory rules to encourage public investment in startup funding and align with the G20 ecosystem for foreign investors.
It will create adoption, capacity building, and networking opportunities for startups with the global investment community through a document on startup investing best practices, the statement added.
The second meeting of the newly established Startup20 pledge group under the Indian Presidency of the G20 will take place on March 18-19, 2023 in Gangtok. Sikkim Sabha will present the final agenda at the meeting’s kick-off event to be held on January 29th, 2023, with the support of all participating delegates.
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During the kick-off meeting, the goals and outcomes of the three working groups, ie Foundation and Alliances, Finance and Inclusion, and Sustainability, were revised to include suggestions from all 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 speciﬁc needs of startups/entrepreneurs led by women, PwDs, LGBTQ+, minorities, and other groups; and support them through access to market and ﬁnancial 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 communique.