New Delhi: First-ever physical startup forum of the Shanghai Cooperation Organisation (SCO) was held on 12th and 13th May. The two-day forum brought together entrepreneurs, investors, and government officials from the SCO member states to discuss and promote cooperation in the startup ecosystem.
The session was inaugurated by Piyush Goyal, Minister of Commerce and Industry. He emphasized on the importance of the Indian startup ecosystem and the SCO region. Piyush Goyal said, “Startups are the engines of economic growth, job creation, and innovation. Indian Government is committed to promote regional cooperation in the startup ecosystem. We believe that regional cooperation is the key to unlocking the full potential of the startup ecosystem in the SCO region.”
The physical forum was organized by Startup India, department of promotion for industry and international trade which comes under Ministry of Commerce.
The event saw participation from SCO member states, a delegation of government officials, startups, incubators, investors and private industry players. The keynote address was given by the Union Minister of State, Ministry of Commerce and Industry Shri Som Parkash. He spoke on the role of entrepreneurs when it comes to growing the economy of India.
Joint Secretary, department for promotion of industry and internal trade, Ministry of Commerce & Industry also addressed the forum by highlighting the importance of startups.
The participants of this forum also visited FITT (Innovation and Technology Transfer) at IIT, Delhi in order to experience the Indian startup ecosystem and their work more personally and to get a firsthand experience.
The SCO is a regional intergovernmental organization comprising of eight member states, including China, Russia, India, Pakistan, Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan. The organization aims to enhance regional cooperation in various fields, including economy, international security, trade, and investment.
The forum conducted several sessions on startup funding, technology transfer, and cross-border collaboration. These sessions provided a platform to entrepreneurs and investors from the SCO member states to exchange ideas, network, and explore business opportunities. The event provided an opportunity for Indian startups to showcase their innovative products and services to a global audience.
The physical forum is a significant step towards promoting regional cooperation in the startup ecosystem among the SCO member states. It is anticipated that through this it will be easier to increase collaboration and investment in the startup ecosystem which will further contribute to the overall economic growth and development of the region.
Startup India has taken several initiatives for SCO Member states previously which includes the SCO Startup Forum 2020. A virtually organized event, The SCO Startup Forum 2021 was held virtually through a personalized platform which represented the Indian culture through augmented reality. The SCO Startup Hub was launched with the aim of maintaining one source of contact for the SCO Startup ecosystem and India.
