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The Startup20 Shikhar Summit of G-20 kicked off in Gurugram on Monday.

Prominent dignitaries, including Minister of State for Commerce and Industry, Som Prakash, India's G20 Sherpa Amitabh Kant, and Chairperson of Startup20, Chintan Vaishnav, graced the inauguration ceremony.

Prakash said that Prime Minister Narendra Modi had launched the initiative of Startup India in the year 2016. Due to this, new startups are being formed in the country today and new incubation centres are being established, he said.

Startups are India's national assets and today's startups will be the Fortune 500 companies of the future, Prakash said.

Amitabh Kant emphasised the significance of Startup20, saying that the Startup20 Engagement Group marks a milestone in the journey of the global startup ecosystem.

Kant also said that more than 75 countries were facing a 'Global Dead Crisis' during the Covid pandemic.

"In such a situation, we have to set up new startups by sharing new technologies with the whole world. We can create new jobs only through new startups," he said.

Prakash said the Summit aims to unleash the full potential of startups and promote economic growth, job creation and sustainable development.

Chintan Vaishnav ssaid: "With the participation of over 600 delegates from 22 countries, we are celebrating the first major milestone of the Startup 20 Summit and months of collaboration, mentorship, and unwavering determination."