4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi

by Psu Connect
Date: 21-03-24

All Member States agreed to create a Special Working Group for Startups and Innovation (SWG) at the Summit of SCO Heads of State in Samarkand, Uzbekistan on 16th September 2022.

4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi

New Delhi: The Shanghai Cooperation Organisation (SCO) Startup Forum's fourth edition took place in New Delhi on March 19th, 2024. The forum aimed to expand startup collaborations among SCO Member States, create an innovation-friendly environment, boost job opportunities, and motivate young talent to develop inventive solutions.

During the SCO Heads of State Summit in Samarkand, Uzbekistan, on September 16th, 2022, all Member States agreed to establish a Special Working Group for Startups and Innovation (SWG).

In 2020, India proposed an initiative to create a new pillar of cooperation between the SCO Member States, recognizing the importance of innovation and entrepreneurship in driving and diversifying an economy. The Startup Working Group (SWG) was established to promote collaboration among SCO Member States, not only to benefit the startup ecosystem but also to accelerate regional economic development. After several rounds of meetings chaired by DPIIT, the Member States approved and adopted the Regulations of the SWG, making it a permanent entity to be chaired by India in SCO starting from 2023.

DPIIT has organized various initiatives for the startup ecosystems. By leading such engagements, India undertook an opportunity to expand the innovation footprint, knitting the whole ecosystem together and inspiring other SCO Member States to take up similar programs. The startup engagements are organized by India to empower the local startup ecosystems in the SCO Member States and provide value to startups through mentoring and enabling access to investor and corporate engagement activities.