Union Minister of State for Electronics and IT Rajeev Chandrasekhar on Thursday spoke about key trends happening in India that are of interest to startups. The Minister said the centre of gravity of tech which used to be in a few countries and around a few companies is now moving to open-source systems and startups are disrupting the normal.
“Three trends are happening that are of interest to start ups today in the innovation economy," Chandrasekhar said during the inaugural ceremony of the two-day G20-Digital Innovation Alliance summit in Bengaluru.
“The center of gravity of tech….is moving to open source systems to younger startups that are disrupting the normal. Such trends are in-turn capitalising on the broader trend of increased digitization and faster digitization," he said.
The two-day Digital Innovation Alliance summit, being held on the sidelines of the fourth meeting of the ‘Digital Economy Working Group’ under G20, is being attended by global experts and digital leaders including representatives from other G20 countries.
The Summit is focused on discussions on ‘Digital Public Infrastructure (DPI)’, ‘Security in the Digital Economy’, and ‘Digital Skilling’.
As part of India’s G20 Presidency, G20 Digital Innovation Alliance (G20-DIA) initiative was launched under MeitY Startup Hub. It recognizes and accelerates the growth of startups from all G20 countries and nine invited guest countries in six sectors – Ed-tech, Health-tech, Agri-tech, Fin-tech, Secured Digital Infrastructure, and Circular Economy that are using digital technologies to solve humanity’s most pressing needs.
As many as 174 startups from 29 countries are part of the program. These startups will pitch to a jury of global leaders at the G20-DIA Summit.
The Summit will culminate on tomorrow (18 August) with an awards ceremony in which 30 startups will be honoured in various categories.
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