Union Minister Piyush Goyal urged the development of an international network of entrepreneurs, investors, and mentors

The Startup 20 Engagement Group's inception meeting in Hyderabad has launched the Startup 20X, a platform to equip business owners with useful information and link them with possible investors.

The Startup 20 engagement group established under the G20 after India assumed the presidency held its first meeting on January 28–29.The group will look at development of policy recommendations on entrepreneurship and innovation goals of and across G20 nations for the years to come.

Before the official opening, G20 Sherpa Amitabh Kant along with senior officials briefed the media on the goals and agenda of StartUp 20. Actor Suniel Shetty unveiled the Startup20X platform on Sunday.

Earlier, addressing the meeting on Saturday, Union Commerce and Industry Minister Piyush Goyal urged the development of an international network of entrepreneurs, investors, and mentors to support the startup ecosystem worldwide. According to him, this network needs to encourage and assist new businesses, function as a unit to allow the sharing of ideas, best practices, and financing sources, and foster R&D partnerships.

Goyal stated that as the G20's host country, India was pleased to showcase the development and potential of the world's startup ecosystem. He pointed out that the Startup20 Group was created for the first time under India's G20 Presidency as part of India's unique focus on innovation.

"Innovation in today’s world goes beyond achieving mere economic objectives as it also considers societal inclusion and environment sustainability", he said.

The Minister said that the Startup India Initiative has contributed to nurturing entrepreneurship and supporting ever-newer ideas, aiding companies in growing and flourishing by developing a growth-friendly ecosystem.

He continued by saying that the abilities of our startups in a variety of fields, including energy, financial inclusion, and work in agri-tech, as well as our fight against pandemics, where remote healthcare and food delivery became crucial, as well as our work in online learning, which is currently becoming very natural, enabled us to overcome a number of obstacles.

For the success of entrepreneurs, Goyal provided the "SENSE" mantra, which stands for Share, Explore, Nurture, Serve, and Empower.

"When I see the enthusiasm all around us, I get a sense of changing mindset, I get a sense of urgency, I can sense that Startup 20 will become a very powerful body which will change the way that the world recognizes and respects startups", he said.

He expressed optimism that the conversations over the following two days will lay the groundwork for solid, implementable proposals for G20 leaders to consider and launch a global startup revolution, enabling us to genuinely impact the future of startups throughout the globe.

Delegates from the G20 attended Startup 20 along with nine special invitees from observer states, officials from international organizations, and members of the Indian startup community.

By developing synergies between startups, corporations, investors, innovation agencies, and other important ecosystem stakeholders, the gathering will develop a global narrative for assisting entrepreneurs.

The Naval Innovation and Indigenisation Organisation(NIIO) also showcased medical innovations undertaken by Indian Naval officers during the inception meeting of the Startup20 Engagement Group.

Medical innovations including the ‘Aadyant’ Oxygen Recycling System(ORS), ‘Spandan’ low-cost digital stethoscope and ‘Nebiro’ smart portable nebuliser were displayed.