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Source-This post on Shanghai Cooperation Organisation Startup Forum has been created based on the article “4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi” published in “PIB” on 21 March 2024.
Why in the news?
The fourth edition of the Shanghai Cooperation Organisation (SCO) Startup Forum was recently convened in New Delhi on March 19, 2024.
About Shanghai Cooperation Organisation Startup Forum
| Aspect | Details |
| Objective | To expand the startup interactions amongst the SCO Member States by nurturing the spirit of innovation, generating more employment and encouraging young talent to build innovative solutions. |
| Organized by | Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry |
| Features | 1) SCO Pavilion Showcase-Over 15 SCO startups showcased their innovative products and services, facilitating networking and inspiration among entrepreneurs. 2) Workshop on Seed Fund Establishment-Conducted by Startup India, the workshop provided strategic insights into setting up seed funds for early-stage startups, encouraging interactive participation and knowledge exchange. 3) Establishment of Special Working Group (SWG)-All SCO Member States agreed to establish a SWG for Startups and Innovation at the SCO Heads of State Summit in 2022.It was aimed at fostering collaboration and regional economic development. India, as the permanent chair, has led the adoption of SWG regulations and will host its second meeting in November 2024. |
| Previous initiatives undertaken by Startup India | Startup India had organized various initiatives for SCO Member states including: 1. SCO Startup Forum 1.0: The SCO Startup Forum in 2020 laid the foundation for multilateral cooperation and engagement for startups amongst the SCO Member States. 2. SCO Startup Forum 2.0: The two-day Forum was held virtually in 2021 through a customized platform representing the Indian culture in augmented reality. SCO Startup Hub, a single point of contact for the SCO startup ecosystem, was launched in this forum. 3. Focused Mentorship Program: A 3-month long virtual mentorship series ‘Starting-Up’ in 2022 was organized for the nominated startups, to build capacity amongst the SCO Startup founders. A total of 100+ hours of mentorship was provided to the startups etc. |
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