Hyderabad will host a two-day inception meeting of the Startup 20 Engagement Group, set up under India's G20 presidency, from Saturday.

G20 is a grouping of developed and developing nations. India is holding its presidency for this year.

Startup 20 is an important engagement group and Hyderabad has a culture of innovation, G20 Sherpa Amitabh Kant told reporters on Friday.

Startup20 has three different tracks, namely, foundation and alliance, finance and inclusivity and sustainability, said Anurag Jain, Secretary, of the Department for Promotion of Industry and Internal Trade.

Startup20 aspires to create a global narrative for supporting startups and enabling synergies between startups, corporates, investors, innovation agencies and other key ecosystem stakeholders, an official release said.

The purpose of this group is to provide a common platform for startups from G20 member countries to come together to develop actionable guidance in the form of the building enabler’s capacities, identification of funding gaps, enhancement of employment opportunities, achievement of SDG targets and climate resilience, and growth of an inclusive ecosystem, it said.

The Startup20 activities will span over five events. The Inception Meet of Startup20 will be held in Hyderabad on Saturday and Sunday (January 28 and 29).

The summit event will take place in July in Gurugram with three intervening events planned in different parts of the country.