G-20 News

g20: Italy unveils the G20 Innovation League to promote startups for a sustainable future

The current Italian Presidency of the G20 unveiled the G20 Innovation League, a new and unique initiative designed to advance innovative projects that help create a sustainable future. The initiative brings together the most promising startups from G20 countries as well as institutions and investment funds so that they can collaborate and develop innovative and sustainable business projects.

Organized in Sorrento, Italy, and supported by the Italian Ministry of Foreign Affairs and International Cooperation, the Ministry of Technological Innovation and Digital Transition and the Ministry of Economic Development, the event was inaugurated by the Minister Italian Foreign Minister Luigi Di Maio. He stressed the importance of international cooperation to face current challenges and rethink the future in innovative ways. Italy will host the G20 summit in Rome on October 30 and 31.

The movement has received special attention in the wake of the COVID-19 pandemic and the global challenges it has presented. A statement from the G20 Innovation League statement said: “To build a more sustainable future, the contribution of institutions and businesses is not enough. New ideas and entrepreneurial projects from startups must play a key role. Five fundamental issues have been identified that will have the most significant impact on the future of the planet [including clean technology, healthcare and smart cities]. ”

“The real challenge is to encourage new international investments and to strengthen cooperation between public and private actors on innovation. For this reason, it is important to bring startups together with potential investors, and to organize B2B meetings with venture capitalists and international companies.

The startups called upon to present their projects and propose sustainable technological solutions took part in five challenges. During the first stage of the competition, the most promising startups were nominated by each of the G20 countries. In the second stage, 100 startups that qualified for the final were evaluated by venture capitalists based on financial results, product uniqueness, team skills, and innovative ideas to meet global challenges and help build a more inclusive and sustainable future.

Startups competed in five categories: Artificial Intelligence, Clean Technology, IoT Technology and Wearable Devices, Smart Cities and New Mobility, and The Future of Healthcare.

The prize in the Cleantech category was awarded to ACT Balde (UK) and Biomicrogels Group (Russia). ACT Balde manufactures a new generation of wind turbines, which are 32% lighter and 10% higher than conventional wind turbines. This translates into an additional 9% energy production for wind farms and other benefits such as the reduction of faults that can interrupt the operation of a wind turbine.

The technology of the Biomicrogels group reduces emissions of ?? 2 when cleaning industrial wastewater from fats, oils and petroleum products during processing. It also increases the efficiency of the production of vegetable oils.

Andrey Elagin, co-founder and CEO of Biomicrogels Group, described India as fertile ground for the development of sustainable projects. He told the Economic Times: “India is one of the priority markets for our company and we see great potential for cooperation with industrial companies in the region.

“Reducing emissions ?? 2 is a prerequisite for the export of industrial products. Currently, mature economies are pursuing an active policy of reducing harmful emissions into the atmosphere, by introducing “carbon tariffs” for local and foreign manufacturers. In this regard, the new solutions of the Biomicrogels Group allow companies to remain competitive on a global level.

The Smart Cities and Mobility category prize was awarded to Dott (Holland) and Virtuo Technologies (France). With a fleet of 45,000 electric scooters and 11,000 electric bikes, Dott brings sustainable mobility to more than 400,000 users in 30 cities in nine countries, every month. In the Efficient Use of the Internet of Things category, the winners were Zerynth (Italy) and Poka (Canada) while The Future of Healthcare, the prizes went to Sansure Biotech (China) and Nalagenetics (Indonesia).

NtechLab (Russia), developer of video analysis software, received the first G20 Innovation League award for the best artificial intelligence startup. Earlier this year, the Indian Western Railway ordered 470 video cameras featuring real-time facial recognition technology developed by NtechLab. The system has been installed at 30 stations in Gujarat and Maharashtra, including Mumbai.

Andrei Telenkov, CEO of NtechLab, told ET: “We believe that next year there will be more Indian companies in the competition. India is a country with a highly developed startup environment, and Indian companies certainly have something to offer the world to meet the challenges of sustainability.

He added, “There is a consensus around the world that without intelligent video analytics systems, a city cannot be smart and safe, and businesses cannot be competitive. The G20 award is an affirmation of NtechLab’s status as one of the world leaders in the development of such systems.