Second meeting of Startup-20 engagement group under India’s G-20 Presidency begins in Gangtok, Sikkim
Mar 18, 2023The two-day meeting of the Startup20 engagement group under India’s G20 Presidency began today at Chintan Bhawan in Gangtok. The Startup20 engagement group aims to bring together global startup systems while ensuring that every nation has the freedom to grow its unique ecosystem.
Addressing the inaugural session of Startup20 Sikkim Sabha, Sikkim Chief Minister PS Tamang said, Startup20 is the perfect opportunity for bringing together and synergising key stakeholders in a world that needs innovation, digitisation, dynamic energy, and technology breakthroughs.
Mr Tamang appreciated the central government’s Startup India Initiative to transform India into a country of job creators instead of job seekers. He highlighted various aspects of the scheme including tax exemptions, ease of doing business, and funding assistance. The chief minister also acknowledged the role of the National Credit Guarantee Trust Company, Startup India Seed Fund Scheme, Small Industries Development Bank of India, and Startup India Hub in taking India to the third position in the Global Startup ecosystem and a jump from the 81st to the 40th position in Global Innovation Index in 2022.
For Sikkim, Mr. Tamang highlighted the significant scope for aggregators in developing end-to-end chains of aggregation, branding, processing and supply of organic farm and livestock products as well as medicinal plants. He also spoke about end-to-end chains in tourism. He stressed local entrepreneurship, faith in ideas and subsequent conversion into entities, risk-taking ability and becoming strong enough to absorb risks.
The chief minister also acknowledged the need for a policy in Sikkim for startups and the hurdles faced by startups in the state, which currently has only nine registered entities. Mr. Tamang expressed the state government’s approach to addressing these challenges by highlighting initiatives like the establishment of an incubation center under the Atal Innovation Mission at Sikkim Manipal University and schemes such as One Family, One Entrepreneur in Sikkim.
Minister of State for Commerce and Industry Som Prakash, who was also present, reiterated the central government’s commitment to strengthen the North East, including the region’s startup ecosystem. Startup20 chair Dr. Chintan Vaishnav was also present on the occasion.
Addressing the inaugural session of Startup20 Sikkim Sabha, officials from Niti Ayog, the External Affairs Ministry, and the Department for Promotion of Industry and Internal Trade showcased the Indian startup ecosystem’s phenomenal growth story and its role during the COVID-19 pandemic. The bigger goal of converging big businesses under B20, which is the oldest engagement group under G20, with smaller entrepreneurs of Startup20, which is G20’s youngest engagement group was highlighted. The two-day event also offers startups’ showcases, informal meetings between entities, and Startup20x as engagement platforms.
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