First-ever SCO Startup Forum to be launched on 27th October.

The first-ever Shanghai Cooperation Organization (SCO) Start up Forum will be launched on 27th October 2020 before of the SCO trade ministers meeting on 28th October. Further, SCO or the Shanghai Pact Heads of Government meeting will be hosted by India on 30th November 2020.

Highlights

  • The forum will lay the foundation for multilateral cooperation and engagement among the SCO Member States.
  • It will help to develop their startup ecosystems collectively.
  • It will also identify areas of cooperation by launching multiple entrepreneurial activities such as:
  1. Start up showcases through virtual platform
  2. procuring social innovations
  3. sharing of best practices,
  4. mobilizing capital for start ups,
  5. multilateral incubator programs and
  6.  knowledge exchange workshops etc.
  • It will help to understand the cultural and economic features of the start up ecosystem in SCO Member States.

India’s Start-up Ecosystem

India is the third-largest start up ecosystem in the world. It has around 35,000 start ups. 25% of these are core technology start ups that are operating in areas of AI, Robotics, IoT, Digital Health, Cloud Computing, Financial & Education Technology. The ‘Start up India’ has launched 10 bilateral bridges which has   helped many technology-based start ups to expand their businesses to global markets.

About SCO

It is an inter governmental organization. SCO was founded on 15 June 2001 in Shanghai, China. It currently has eight Member States namely- China, India, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. It comprises of Four Observer States that seeks full membership namely- Afghanistan, Belarus, Mongolia and Iran.  The organization comprises Six Dialogue Partners namely- Armenia, Nepal, Sri Lanka, Azerbaijan, Cambodia and Turkey.