Rajeev Chandrasekhar, the Union Minister of State for Electronics and IT, talked on Thursday about important factors affecting startups in India.
“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 centre 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 Minister said that startups are upending the status quo and that the IT industry’s centre of gravity, which was previously concentrated in a few nations and a small number of businesses, is now shifting to open-source platforms.
Global experts and digital leaders, including guests from other G20 nations, are in attendance for the two-day Digital Innovation Alliance conference, which is taking place concurrently with the fourth meeting of the G20’s “Digital Economy Working Group.”
Digital Public Infrastructure (DPI), Security in the Digital Economy, and Digital Skill are the main topics of debate during the summit.
The G20 Digital Innovation Alliance (G20-DIA) programme was established under MeitY Startup Hub as part of India’s G20 Presidency. In six industries education technology, health technology, agricultural technology, financial technology, secured digital infrastructure, and circular economy startups from all G20 nations and nine invited guest countries are recognised and encouraged to thrive.
These industries use digital technologies to address some of humanity’s most urgent problems. The programme includes up to 174 businesses from 29 different countries. At the G20-DIA Summit, these startups will present to a jury of world leaders.
Tomorrow (18 August) will mark the summit’s conclusion with an awards event in which 30 companies will be recognised in several categories.
