Fourth SCO Startup Forum organized in New Delhi

The fourth edition of the Shanghai Cooperation Organization (SCO) Startup Forum was organized in New Delhi on March 19, 2024.

About the Fourth SCO Startup Forum

• The initiative focuses on broadening startup interactions among SCO member states, fostering an environment conducive to innovation, boosting job creation and harnessing young talent to develop innovative solutions.
• The SCO Pavilion provided a showcase opportunity in which more than 15 SCO startups showcased their products and services. The showcase provided networking opportunities designed to inspire, educate and empower these entrepreneurs.
• Along with this, the delegates also participated in a workshop organized by Startup India on the topic ‘Establishment of Seed Fund: Strategic Approach to Promote Innovation and Entrepreneurship’. The workshop also included an interactive session to explain the different models of setting up seed funds to support early stage startups.

Other important facts

• All member countries had agreed to create a Special Working Group for Startups and Innovation (SWG) at the SCO Heads of State Summit held in Samarkand, (Uzbekistan) on September 16, 2022.
• Recognizing the importance of innovation and entrepreneurship in driving and diversifying the economy, India had proposed this initiative in 2020 to create a new pillar of cooperation among SCO member states. The SWG was created with a vision to promote collaboration among SCO member states to not only benefit the startup ecosystem but also accelerate regional economic growth.
• After several rounds of meetings under the chairmanship of DPIIT, it was decided by the Member States to approve and adopt the Regulations of the SWG for India’s permanent Chairmanship of the SCO in the year 2023.
• DPIIT has organized various initiatives for the startup ecosystem. By leading such activities, India has the opportunity to expand its innovation pipeline, integrate the entire ecosystem and inspire other SCO member states to launch similar programmes.
• Startup activities are organized by India with the objective of strengthening the local startup ecosystem in SCO member countries to give value to startups through guidance and enabling access to investment and corporate engagement activities.
• India will host the second meeting of the SWG in November 2024 and the SCO Startup Forum 5.0 meeting in January 2025.

Various initiatives organized by Startup India for SCO member countries include the following activities:-

• SCO Startup Forum 1.0: In 2020, the SCO Startup Forum laid the foundation for multilateral cooperation and collaboration for startups among SCO member states.
• SCO Startup Forum 2.0: A two-day forum organized virtually through a customized platform in the year 2021 represented Indian culture through Augmented Reality. SCO Startup Hub, a single point of contact for the SCO startup ecosystem was launched at this forum.
• Focused Mentorship Programme: SCO organized a 3 month long virtual mentorship series ‘Starting-Up’ for nominated startups in the year 2022 with the objective of capacity building among startup founders. In this, a total of 100+ hours of mentorship was provided to the startup.
• SCO Startup Forum 3.0: DPIIT organized the first ever physical SCO Startup Forum in the year 2023 for SCO member countries. In this, delegates participated in the workshop organized on ‘Role of bilateral and multilateral engagement in developing startup ecosystem’. This was followed by a visit to an incubator at IIT Delhi.
• First meeting of SWG: The first meeting of the SCO Special Working Group (SWG) on Startups and Innovation under the permanent chairmanship of India was held in the year 2023 on the theme ‘Growing from the Roots’. 25 representatives from 9 SCO member countries participated in the meeting and gave information about their startup ecosystem and possible areas of cooperation related to agriculture and animal husbandry sectors covered under this theme.

Shanghai Cooperation Organization (SCO)

• It is a permanent inter-governmental international organization.
• Created in the year 2001 and the SCO Charter was signed in the year 2002 and it was implemented in the year 2003.
• The SCO is governed by the Council of Heads of State (HSC), its highest decision-making body, which meets once a year.
• The first summit was held in Shanghai, China in 2001.
• Its main objective is to strengthen relations among member countries and promote cooperation in energy, transport, tourism and environmental protection and to safeguard regional peace, security and stability.
• Secretariat-Beijing

SCO member countries

1. China
2. India
3. kazakhstan
4. Kyrgyzstan
5. Russia
6. Pakistan
7. tajikistan
8. Uzbekistan

Note:

• The Shanghai Cooperation Organization (SCO) 2023 summit was held in Goa, India.
• Chairmanship – India

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