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G20 INNOVATION LEAGUE

G20 INNOVATION LEAGUE

Context:

The Italian Presidency of the G20 has launched the "G20 Innovation League", with the aim of building a sustainable future. The G20 Innovation event was held in Sorrento, Italy.

G20 Innovation Event:

  • It is supported by the Ministry of Foreign Affairs & International Cooperation of Italy, the Ministry of Economic Development of Italy and the Ministry of Technological Innovation & Digital Transition of Italy.
  • The event was opened by Italian Foreign Minister Luigi Di Maio.
  • Italy is also expected to host the G20 summit in Rome on October 30-31, 2021.

G20 Innovation League:

  • It is a unique project designed to advance new projects, which will also help build a sustainable future.
  • It will bring together the most promising start-ups from the G20, and investment and institutions so that they can work together and develop “innovative sustainable business projects”.

Significance of the Summit:

  • This move is important and has been given focus in the backdrop of the Covid-19 pandemic and global challenges the pandemic has presented.
  • In this context, the real challenge is to promote new international investment and strengthen partnerships between the public and private actors with innovation.

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