StartUp 20

Ashutosh Kumar, Arun Singh, Anurag Vishwakarma, Anant Bansal, Ritik

Kapoor, Keshav Chauhan, Amartya, Prince, Sanskar Pathak

Kirori Mal College, University Of Delhi

Abstract

Background: Startup20 is the first-of-its-kind engagement group of the G20,

established under India's presidency in 2023. It is a dialogue forum with the
global startup ecosystem, representing its voice and raising its concerns and
challenges to the G20 leaders.

Methods: This research paper is based on a qualitative analysis of Startup20

initiatives and documents, as well as interviews with key stakeholders in the
startup ecosystem.

Findings: The paper finds that Startup20 is playing a significant role in

building a more supportive and enabling environment for startups to thrive. It is
doing this by:
• Developing supportive policies and regulations
• Fostering cross-border collaboration
• Promoting diversity and inclusion
• Addressing the financing needs of startups
• Supporting startups from underserved communities
• Developing technologies that address global challenges
The paper also finds that Startup20 has the potential to advance the Sustainable
Development Goals (SDGs) and bridge the gap between the developed and
developing world.

Conclusion: Startup20 is a valuable initiative with the potential to make a

lasting impact on the global economy and society. The paper recommends that
Startup20 continue to focus on its three key task forces: Foundation and
Alliances, Finance, and Inclusion and Sustainability. It also recommends that
Startup20 explore ways to collaborate with other G20 engagement groups and
initiatives, such as the Global Innovation Forum and the Women's 20.

Keywords: Startup20, G20, startup ecosystem, sustainable development goals,

inclusive growth, innovation

Introduction

StartUp20 is the first-of-its-kind engagement group of the G20, established

under India's presidency in 2023. It is a dialogue forum with the global startup
ecosystem, representing its voice and raising its concerns and challenges to the
G20 leaders.Startups play a vital role in driving economic growth and
innovation. They are at the forefront of developing new technologies and
creating new jobs.

However, startups also face a number of challenges, including access to finance,

supportive policies and regulations, and cross-border collaboration.StartUp20
was established to address these challenges and to create a more supportive and
enabling environment for startups to thrive.

It operates through three task forces: Foundation and Alliances, Finance, and
Inclusion and Sustainability.
● The Foundation and Alliances task force focuses on building a strong
foundation for the global startup ecosystem, including developing
supportive policies and regulations, fostering cross-border collaboration,
and promoting diversity and inclusion.
● The Finance task force focuses on addressing the financing needs of
startups, including developing innovative financing mechanisms and
improving access to capital.
● The Inclusion and Sustainability task force focuses on promoting
inclusive and sustainable growth in the startup ecosystem, including
supporting startups from underserved communities and developing
technologies that address global challenges.

StartUp20 is a significant initiative with the potential to make a lasting impact

on the global startup ecosystem. It is bringing together the global startup
community to raise its voice and advocate for its needs. It is also working to
create a more supportive and enabling environment for startups to thrive.

Objectives

The objectives of a research paper on Startup20 are to:

● Examine the role of Startup20 in promoting the growth and development

of the global startup ecosystem.
● Identify and assess the key initiatives of Startup20 and their impact on
the startup ecosystem.
● Explore the potential of Startup20 to advance the Sustainable
Development Goals (SDGs) and bridge the gap between the developed
and developing world.
● Provide recommendations for policymakers and other stakeholders on
how to further support Startup20 and its mission.

Literature Review

The literature review consisted of going through several government

documents, published articles and press briefings.The following outcomes from
the different sources give Startup 20 is a group of policymakers, entrepreneurs,
and experts from G20 countries who have come together to deliberate on policy
recommendations for entrepreneurship and innovation.The group aims to
promote startups and innovation and create an environment that fosters their
growth. Startup 20 was launched under India's G20 presidency in 2023, and the
group has already made several policy recommendations.

Policy Recommendations for Entrepreneurship and Innovation: Unlocking

the Potential of Startups
Startup 20 has made several key policy recommendations that could have a
significant impact on the startup ecosystem. These recommendations include:
The establishment of single-point nodal agencies across G20 countries to drive
the agenda of startups. The creation of a global innovation index to rank
countries based on their innovation performance. The promotion of inclusive
and sustainable entrepreneurship by ensuring that startups take into account the
social and environmental impact of their businesses.

Inside India's Thriving Startup Ecosystem: How Startup 20 is Driving

Growth and Innovation
India's startup ecosystem has been thriving in recent years, with several
unicoms emerging from the country. The success of India's startup ecosystem
can be attributed to several factors. including: A large pool of talented and
skilled workers. A growing middle class with high purchasing power.
Government support for startups through policies such as Startup India and
Make in India.

From Inclusivity to Sustainability: How Startup 20 is Paving the Way for

Socially Responsible Startups
One of the tracks of Startup 20 focuses on inclusivity and sustainability.
Startups today must take into account the social and environmental impact of
their businesses, and Startup 20 has made several initiatives and
recommendations related to these topics. For example, the group has
recommended that startups create social impact models and consider the social
and environmental impact of their businesses.

Single-Point Nodal Agencies: A Game-Changer for Startups Across G20

Nations
One of the key recommendations made by Startup 20 is the establishment of
single-point nodal agencies across G20 countries to drive the agenda of startups.
These agencies would act as a one-stop-shop for startups, providing them with
support and guidance throughout their journey. While this approach could have
several benefits, including making it easier for startups to navigate the
regulatory landscape it could also face challenges such as bureaucratic hurdles.

India Takes the Lead: Startup 20 and the 2023 G20 Presidency
India's presidency of G20 in 2023 provides a unique opportunity to promote
entrepreneurship and innovation on a global stage. Startup 20 is part of India's
larger agenda for the group, which includes promoting sustainable and inclusive
growth, enhancing digital technologies, and strengthening global cooperation.

Unicorns on the Rise: A Look at India's Most Successful Startup Ventures.

Finally, India has several unicorn startups that have emerged in recent years.
Some of the most recent additions to the club include PharmEasy, Zomato, and
Nykaa. These companies are a testament to the success of India's startup
ecosystem and the potential for growth an innovation in the country.

In conclusion, Startup 20 is a G20 initiative that aims to promote

entrepreneurship and innovation. India's thriving startup ecosystem, coupled
with the policy recommendations made by Startup 20, could have a significant
impact on startups globally. By focusing on inclusivity and sustainability and
establishing single-point nodal agencies, the group is laying the foundation for a
more supportive environment for startups to grow and thrive.

Discussion

StartUp20 is a significant initiative with the potential to make a lasting impact

on the global startup ecosystem. It is the first-of-its-kind engagement group of
the G20, and it represents the voice of startups and raises their concerns and
challenges to the G20 leaders.

StartUp20 operates through three task forces: Foundation and Alliances,

Finance, and Inclusion and Sustainability. These task forces are working to
address the key challenges faced by startups, including:

● Access to finance: The Finance task force is working to develop

innovative financing mechanisms and improve access to capital for
startups.
● Supportive policies and regulations: The Foundation and Alliances task
force is working to develop supportive policies and regulations for
startups, foster cross-border collaboration, and promote diversity and
inclusion in the startup ecosystem.
● Inclusion and Sustainability: The Inclusion and Sustainability task
force is working to support startups from underserved communities and
develop technologies that address global challenges.

StartUp20 has the potential to make a significant contribution to the

achievement of the Sustainable Development Goals (SDGs). For example, by
promoting startup growth in developing countries, StartUp20 can help to reduce
poverty and inequality. By supporting startups that are developing innovative
solutions to global challenges such as climate change and healthcare, StartUp20
can help to create a more sustainable and equitable world.

However, StartUp20 also faces some challenges. One challenge is that it is a

relatively new initiative, and it is still working to establish itself as a credible
and influential voice for the global startup ecosystem. Another challenge is that
StartUp20 needs to coordinate its efforts with other G20 engagement groups
and initiatives, such as the Global Innovation Forum and the Women's 20.

Despite these challenges, StartUp20 has the potential to make a significant

impact on the global startup ecosystem. By bringing together the global startup
community to raise its voice and advocate for its needs, StartUp20 can help to
create a more supportive and enabling environment for startups to thrive.

Here are some specific ways that StartUp20 can overcome its challenges and
achieve its goals:

● Build relationships with key stakeholders: StartUp20 needs to build

relationships with key stakeholders in the global startup ecosystem,
including investors, policymakers, and other ecosystem organizations.
This will help StartUp20 to better understand the needs of the startup
community and to advocate for policies and programs that support startup
growth.
● Develop a clear and concise message: StartUp20 needs to develop a
clear and concise message about its goals and objectives. This will help
StartUp20 to communicate its value proposition to key stakeholders and
to build support for its initiatives.
● Measure and track progress: StartUp20 needs to develop metrics to
measure and track its progress. This will help StartUp20 to identify what
is working and what is not, and to make necessary adjustments to its
strategies.

By taking these steps, StartUp20 can position itself to make a significant and
lasting impact on the global startup ecosystem.
Methodology

1. Data collection tools and techniques

Data was collected from primary as well as secondary sources.Primary data was
collected via a questionnaire (google form), which was circulated among the
students of our college. Relevant Questions were formed regarding the basic
details of the Startup20 initiative and about the startup ecosystem. Efforts were
made to penetrate this form to most of the people across all age groups. A total
of 45 responses were received.

For secondary data, the government website that is particularly made for the
Startup20 engagement group, was visited frequently. Majority of the data has
been acquired by the published content by the government on the website itself
and by thoroughly analyzing the several media and press briefings.

2. Data Analysis

Both quantitative and qualitative analysis of

the data was done.The quantitative data was analysed descriptively as well as
inferentially.

For descriptive analysis, the entire data was transported in an MS Excel sheet,
and logical and mathematical functions were used therein to compute relevant
percentage, ratios and mean. Inferential analysis was presented through
correlation (to understand the association of different variable responses on
questions of the Google form) and independent sample testing.

For qualitative analysis, the documented information collected from print and
digital media were segregated and presented in a logical and coherent manner to
fulfil the purpose of the research.

3. Ethical Considerations

Research was carried out in compliance with all ethical benchmarks.

Participants were fully informed about the objective of the study and were
reassured that their responses were to be used only for academic purposes. The
confidentiality of respondents was maintained. Further, no participant was
harmed or forced to fill the survey. It was made sure that their participation is
voluntary and that the survey creates a climate of comfort.

The data from secondary sources was presented in an unbiased & passive
narrative, so that it does not hurt the sentiments/ interests of any particular
group of individuals.

Findings
The provided information discusses Startup20, which is an official engagement
group established under the G20 India Presidency 2023. It serves as a dialogue
forum for the global startup ecosystem stakeholders to raise macroeconomic
concerns and challenges faced by entrepreneurs with G20 leaders. Startup20 aims
to bring forward key topics for discussion and formulate recommendations in
various priority areas for the G20 Summit. It operates through Task Forces
structured to develop key priorities and convey recommendations to the G20 India
presidency.

The "Recommended Governance Framework for Start-ups" is an important

component of Startup20's efforts. This framework is designed to establish a culture
of accountability, transparency, and ethical behavior in startups. It emphasizes the
importance of governance and provides guidance on establishing effective
communication channels, identifying and managing risks, complying with
regulatory requirements, and building a culture of compliance. The framework is
flexible and scalable to accommodate the unique needs of each startup and is
intended to be a living document that can be updated and refined as businesses
evolve.

The vision and mission of Startup20 are focused on promoting responsible and
effective governance practices among startup companies, with the goal of building
a sustainable, reliable, and inclusive ecosystem for innovation and
entrepreneurship in India.

Key findings from the provided information about Startup20 and the recommended
governance framework are:
 1. Startup20 is an engagement group under the G20 India Presidency aimed
at representing the global startup ecosystem and raising macroeconomic
concerns with G20 leaders.
2. The "Recommended Governance Framework for Start-ups" is a
comprehensive guide for startups to establish effective governance
practices, emphasizing transparency, accountability, and compliance.
3. The framework is flexible and scalable, intended to be tailored to the
specific needs of startups at different stages of maturity.
4. Self-regulation and good corporate governance are important for
startups to build trust with stakeholders, attract investment, and operate
ethically.
5. The framework is designed to facilitate the transition of startups into
consolidated corporate entities.
6. It is suggested that startups follow the framework over and above
relevant laws, and if they choose not to follow a recommendation, they
should provide an explanation for their decision.
7. The success of the framework depends on its implementation,
continuous improvement, and the involvement of various stakeholders in
the startup ecosystem.
8. The Indian startup ecosystem is dynamic and diverse, with the potential
to create jobs, generate wealth, and drive innovation.
9. The governance framework is seen as a catalyst for startups to make
sound investment decisions and ensure their smooth functioning and
growth.

Overall, the information provides insights into the goals, mission, and framework
of Startup20 and emphasizes the importance of governance in the startup
ecosystem.

Opportunities

Opportunities for Startup20

Startup20 is a significant initiative with the potential to make a lasting impact

on the global startup ecosystem. However, it is still a relatively new initiative,
and there are a number of opportunities for it to grow and develop.
One opportunity is to expand Startup20's reach and impact. Startup20 is
currently focused on the G20 countries, but there is an opportunity to expand its
reach to other countries around the world. This would help to promote startup
growth and development in all countries, including developing countries.

Another opportunity is to deepen Startup20's engagement with the startup

community. Startup20 needs to continue to build relationships with startups and
other ecosystem stakeholders in order to better understand their needs and to
advocate for policies and programs that support startup growth.

Finally, Startup20 needs to develop metrics to measure and track its progress.
This will help Startup20 to identify what is working and what is not, and to
make necessary adjustments to its strategies.

Here are some specific opportunities for Startup20:

Expand its reach and impact: Startup20 could expand its reach and impact by
partnering with other international organizations, such as the World Bank and
the United Nations, to promote startup growth and development in developing
countries. Startup20 could also establish regional chapters to better engage with
startups and other ecosystem stakeholders in different parts of the world.

Deepen its engagement with the startup community: Startup20 could deepen
its engagement with the startup community by hosting more regular events and
workshops for startups, investors, and other ecosystem stakeholders. Startup20
could also create online communities and forums where startups can connect
with each other and with other ecosystem stakeholders.

Develop metrics to measure and track its progress: Startup20 could develop
metrics to measure and track its progress in terms of the following:

● The number of startups that have benefited from Startup20 programs and
initiatives.
● The amount of capital that has been raised by startups through
Startup20-supported programs and initiatives.
● The number of jobs that have been created by startups through
Startup20-supported programs and initiatives.
 ● The number of policies and regulations that have been changed to support
startups as a result of Startup20 advocacy efforts.
● By taking these steps, Startup20 can position itself to make a significant
and lasting impact on the global startup ecosystem.

In addition to the above opportunities, Startup20 could also focus on the

following:

Promoting diversity and inclusion in the startup ecosystem: Startup20 could

work to promote diversity and inclusion in the startup ecosystem by supporting
startups from underserved communities and by promoting female
entrepreneurship.

Supporting startups that are developing innovative solutions to global

challenges: Startup20 could support startups that are developing innovative
solutions to global challenges, such as climate change and healthcare.

Advocating for open innovation and collaboration: Startup20 could advocate

for open innovation and collaboration among startups, corporates, and research
institutions. This would help to accelerate the pace of innovation and the
development of new technologies.

By focusing on these opportunities, Startup20 can play a leading role in creating

a more supportive and enabling environment for startups to thrive. This will
benefit the global economy and society as a whole.

Managerial and Social Implications

Managerial Implications
Startups are known for their innovative and disruptive business models. This
can pose a challenge for managers who are used to traditional ways of doing
things. However, it also presents an opportunity to learn new things and develop
new skills.
Some of the key managerial implications of startups include:
● The need for a more agile and adaptive management style. Startups need
to be able to pivot quickly and adapt to change. This requires managers who are
willing to take risks and experiment.
● A focus on innovation and creativity. Startups are constantly looking for
new ways to do things. This requires managers who are able to foster a culture
of innovation and creativity within their teams.
● A willingness to learn from failure. Failure is a common part of the
startup journey. Managers need to be able to learn from failures and move on.
● A focus on employee engagement and motivation. Startups often have
small teams, so it is important for managers to keep their employees engaged
and motivated. This can be done by providing them with opportunities to learn
and grow, and by giving them a sense of ownership in the company's success.

Social Implications
Startups are also having a significant impact on society. They are creating new
jobs, disrupting existing industries, and developing new technologies that are
changing the way we live and work.
Some of the key social implications of startups include:
● Increased job creation. Startups are one of the main drivers of job
creation in the global economy. In the United States, startups create over 2
million jobs each year.
● Disruption of existing industries. Startups are disrupting existing
industries in a variety of ways. For example, Uber and Lyft have disrupted the
taxi industry, and Airbnb has disrupted the hotel industry. This disruption can be
disruptive to incumbent businesses, but it can also lead to lower prices and
better quality for consumers.
● Development of new technologies. Startups are developing new
technologies that are changing the way we live and work. For example,
self-driving cars are being developed by several startups, and artificial
intelligence is being used by startups in a variety of industries. These new
technologies have the potential to revolutionize many aspects of our lives.
Overall, the managerial and social implications of startups are significant.
Startups are creating new jobs, disrupting existing industries, and developing
new technologies that are changing the way we live and work. Managers who
are able to adapt to the changing landscape of startups will be well-positioned to
succeed in the future.
Conclusion

StartUp20 is a significant initiative with the potential to make a lasting impact

on the global startup ecosystem. By addressing the key challenges faced by
startups, promoting startup growth in developing countries, and supporting
startups that are developing innovative solutions to global challenges,
StartUp20 can help to create a more prosperous, sustainable, and equitable
world.

StartUp20 is still a relatively new initiative, but it has already made significant
progress. It has raised awareness of the challenges faced by startups and the
importance of the startup ecosystem, advocated for supportive policies and
regulations for startups, facilitated cross-border collaboration among startups,
investors, and other ecosystem stakeholders, and promoted startup education
and training.

There are a number of opportunities for StartUp20 to grow and develop in the
future. It can expand its reach and impact, deepen its engagement with the
startup community, and develop metrics to measure and track its progress.
StartUp20 can also focus on promoting diversity and inclusion in the startup
ecosystem, supporting startups that are developing innovative solutions to
global challenges, and advocating for open innovation and collaboration.

By taking these steps, StartUp20 can position itself to play a leading role in
creating a more supportive and enabling environment for startups to thrive. This
will benefit the global economy and society as a whole.

Call to action
I call on policymakers, investors, and other ecosystem stakeholders to support
StartUp20 in its mission to promote the growth and development of the global
startup ecosystem. Together, we can create a world where startups can thrive
and where their innovations can benefit all of humanity.

References

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Appendices