G20 meet set to finalise a common definition for start-ups by July

The development comes in the backdrop of the setting up of Startup20, an official engagement group initiated under the Indian presidency of G20

An official engagement group under G20 is set to finalise a common definition for start-ups in the next three months, with an aim to harmonise the global start-up ecosystem. 

“We are going to collaboratively define startups uniformly across G20 countries. We have already had discussions on this twice. By the third meeting, it should be finalised,” a senior government official said.

“All countries are putting in their suggestions. It will be a single communique that will be agreed upon by everyone,” the official said, adding that a single start-up definition will have a positive impact on policymaking. 

The development comes