G20: An engagement group call for global definition for start-ups

An engagement group under India’s G20 Presidency has called for the creation and adoption of a global definition framework for start-ups across G20 nations.

“Encourage multilateral organisations, research organisations, and other relevant stakeholders to adopt a definition framework for consistency in understanding and evaluating startup ecosystems. Align the existing definitions to the definition framework and ensure future alignment with the evolution of both government and private sectors,” said an official statement on Monday.

It also called for a favourable policy environment for startups through tax incentives and has recommended enabling measures to ease the cross-border flow of capital across G20 nations.