India handed over torch of Startup 20 to Brazil

Tags: International News

India-handed-over-torch-of-Startup-20-to-BrazilThe Startup 20 Gurugram Summit, organized by the Startup 20 Engagement Group under the India G20 chairmanship, concluded in Gurugram on 4 July 2023.

Important Points:-

  • During the closing ceremony, Dr. Chintan Vaishnav, President of Startup20, officially handed over the torch to Brazil as Brazil is to chair the G20 next year.
  • The two-day summit served as a platform to foster innovations, collaborations, knowledge sharing and strategic alliances within the global startup ecosystem.
  • Underlining the importance of Startup20, Saudi Arabia's Prince Fahd bin Mansour announced an ambitious allocation of $1 trillion per year to the startup ecosystem by 2030.
  • Saudi Arabia became the first country to provide support for global startups to reach $1 trillion.
  • This initiative of Saudi Arabia will be helpful in strengthening startups for global welfare.
  • The Startup20 Gurugram Summit serves as an important platform for the startup ecosystem, ecosystem builders, industry experts, government, policy makers and thought leaders to collaborate and shape the way for startups globally.


  • Capital: Brasilia
  • President: Luiz Inácio Lula da Silva
  • Currency: Brazilian Real

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