The apex industry body for alternative assets – the Indian Venture & Alternate Capital Association (IVCA), announced representation from the Indian VCs attending the G20 Digital Innovation Network (G20 DIN) as part of MeitY’s delegation. The two VCs from India who are IVCA members attending the event between September 2 – 4, 2022 at Bali are – Abhishek Mittal (Partner, Aavishkaar Capital), and Rajeev Suri, (Managing Partner, Orios Venture Partners). This year’s theme at G20 DIN will see Indian VCs shed light and draw experiences from the Indian market which has witnessed the exponential rise in the Digital Economy and is expected to herald a new phase of growth.
The G20 DIN will be held under the auspices of the Indonesian G20 Presidency, by the Indonesian Ministry of Communications and Informatics, in collaboration with other Indonesian Ministries and Agencies. The Members of G20 and guest countries are expected to participate in the event.
“The switch to digital has been transformational to societies: tech entrepreneurs have powered up nations and spurred big growth in jobs. Today, we look to the Digital economy as a pathway to better govern, engage with stakeholders, and deliver sustainability. We at IVCA believe that this is undoubtedly a big growth opportunity for G20 countries and transformational to societies. As the world turns to look at India, which has seen big leaps in digital in the last two years, we look to work with the G20 to fructify this vision into reality” said Rajeev Suri, Managing Partner, Orios Venture Partners.
The G20 DIN will provide a unique opportunity for each of its participants. Startups will be able to showcase their solutions on a global stage to some of the most important public and private innovation players from G20 countries. Investors would showcase their portfolio companies and learn about various innovations being developed and adopted by startups in other parts of the world. Policy-makers will be able to witness how innovations can tackle society’s complex needs and corporations will have the opportunity to share their inventions and/or invest in innovative solutions to help them in overcoming existing challenges.
“The Indian VC industry has come of age in the last decade and Indian startups and VCs are expanding globally. India’s success in building and scaling businesses that are solving large social problems at scale is being replicated in other emerging markets. Events such as G20 DIN are an excellent platform to not only talk about the potential of impact and ESG investing in addressing the issues created by climate change and growing inequality around the world but how we can collaborate across borders to address them,” said Abhishek Mittal, Partner – Aavishkaar Capital.
The main objective of this event is to showcase innovative solutions from startups that address issues in the sector, which are emphasized by the Indonesian G20 Presidency and the Digital Economy Working Group. Healthcare, clean energy, and education sectors will be in focus with the aim of supporting stronger and sustainable post-COVID-19 recovery in agriculture, financial, and logistics sectors along with sharing knowledge and insights on innovations that have emerged during the pandemic.
India will take over the Presidency of G20 Presidency on December 1, 2022, from Indonesia, and will convene the G20 Leaders’ Summit for the first time in India in 2023.