G20 countries to discuss common framework to define startups: Official

G20 member countries, including India and the US, are holding consultations to arrive at a common framework to define startups with a view to promoting the growth of new ventures, a senior official said.

This issue among others would come up for discussion during the Startup20 Engagement Group's, under India's G20 presidency, third meeting on June 3-4 in Goa.

A common framework would help investors and other stakeholders of the startup ecosystem in the G20 member countries.

Briefing media about these meetings, Startup20 India Chair and Mission Director Atal Innovation Mission, Niti Aayog Chintan Vaishnav said that there are five task forces under this group - foundation, alliances, finance, inclusion, and sustainability.

The idea of the foundation is to come up with a startup definition framework which is applicable across different economies. When you talk about the global startup ecosystems coming together, working together, becoming interoperable, you realize that there are no .