Strengthen global start-up ecosystem: Goyal

Hyderabad: Union Minister of Textiles, Commerce and Industry Piyush Goyal called for an international network of mentors, investors and entrepreneurs to strengthen the global startup ecosystem.

Addressing delegates and invitees of the inception meeting of the Startup G20 group through virtual mode, Piyush Goyal said, it is the collective responsibility of the world to create an inclusive, supportive and sustainable start-up ecosystem to address global challenges.

Further, he noted that innovation would be the strongest pillar that would help build a developed India in the 'Amritkal' and highlighted how the growing participation from Tier 2 and 3 markets that are swiftly embracing the latest technologies has pushed the development of local start-ups in India.

Piyush Goyal gave a new mantra of 'SENSE'- Share, Explore, Nature, Serve and Empower for the growth of start-ups. "Innovation in today's world goes beyond achieving mere economic objectives as it also considers societal inclusion and environmental sustainability," he said.

Further, he said developing nations must transform themselves from being destinations for low-cost, outsourced software and support services, to becoming global Tech and Innovation hubs.