India passes G20 Startup20 Presidency torch to Brazil

The Startup20 Shikhar Summit, which was put on by the Startup20 Engagement Group for the India G20 Presidency, came to a successful conclusion on Tuesday in Gurugram, the NITI Aayog said in an official release.
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, the Chair of Startup20, Chintan Vaishnav, officially 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. These continuations of Startup20 with the Brazil presidency were a true success for the group and a milestone in the advancement of the startup ecosystem worldwide.
According to the official press release of the NITI Aayog, Saudi Arabia, represented by Prince Fahad Bin Mansoor, became the first nation to endorse and support Startup20's proposal to allocate an ambitious $1 trillion annually into the startup ecosystem by 2023, underscoring the significance of the initiative.
He 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 Shikhar Summit, underscoring Saudi Arabia's steadfast dedication to fostering global innovation and entrepreneurship.
He asserted, "By pledging support for the USD1 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, according to the official press release.

(ANI)