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Synopsis
Ahead of the summit, India organised a meeting of SCO Startup Forum, which has essentially been an Indian initiative since 2020. The forum aimed to expand startup interactions among the SCO member states and encourage innovation, employment generation, and talent building, an official said.
ANI
Prime Minister Narendra Modi will advocate sharing best practices from the Indian Startup sector to promote innovation and business in the Eurasian region at next week’s Shanghai Cooperation Organisation (SCO) Summit. The PM has put special emphasis on promoting Startup culture through the SCO platform to encourage young entrepreneurs and boost the economy of the vast Eurasian region.
Besides the PM, presidents of Russia, Belarus, China, Pakistan’s prime minister and other Central Asian leaders, would attend the SCO Summit virtually. Iran, which will be admitted as the next SCO member, is also expected to be represented at the summit.
Ahead of the summit, India organised a meeting of SCO Startup Forum, which has essentially been an Indian initiative since 2020. The forum aimed to expand startup interactions among the SCO member states and encourage innovation, employment generation, and talent building, an official said.
The event was organised by Startup India, the Department of Promotion for Industry and Internal Trade under the Ministry of Commerce. The SCO Startup Forum focused on collaboration and entrepreneurship, according to the above-mentioned official. It aimed to promote innovation development, particularly through the creation of common platforms and the facilitation of ideas and best practices among the SCO member states. The forum facilitated various startup-to-startup bilateral meetings to promote and achieve this agenda, the official recalled.
The forum witnessed physical participation from the SCO member states, including a delegation of government officials, private industry players, incubators, and start-ups. Indian Minister of State, Ministry of Commerce & Industry, Som Parkash had delivered the keynote address, highlighting the role of the startup ecosystem in boosting the economy of a nation.
Startup India had previously organised various initiatives for the SCO member states, including the SCO Startup Forum 2020, which laid the foundation for multilateral cooperation and engagement for startups among the SCO member states.
The SCO Startup Forum 2021 was held virtually through a customised platform, representing Indian culture in augmented reality. It launched the SCO Startup Hub, a single point of contact for the SCO startup ecosystem. Startup India also organised a three-month-long virtual mentorship series called “Starting-Up” for nominated startups to build capacity among the SCO startup founders.
This year’s forum witnessed the Indian side sharing best practices from the startup journey and initiatives for promoting startups by the government of India. The delegates attended a workshop conducted by Startup India on the “Role of Bilateral and Multilateral Engagements in Developing Startup Ecosystem.” The workshop included an interactive session to understand various models of engagements that can be undertaken to develop closer ties between nations and boost the startup ecosystem in SCO nations.
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