4th Shanghai Cooperation Organisation Startup Forum
Context:
Recently, the fourth edition of the Shanghai Cooperation Organisation (SCO) Startup Forum took place in New Delhi.
- It was aimed at fostering innovation and collaboration among startups from SCO Member States.
Relevance:
GS-02 (International Relations)
Showcase and Workshop :
- The SCO Pavilion showcased products and services from over 15 SCO startups, facilitating networking opportunities.
- A workshop by Startup India on ‘Establishing a Seed Fund’ provided insights into setting up seed funds to support early-stage startups.
Special Working Group for Startups and Innovation (SWG) :
- All Member States agreed to create the SWG at the SCO Heads of State Summit in Samarkand, Uzbekistan, in September 2022.
- The SWG aims to foster collaboration among SCO Member States, accelerate regional economic development, and benefit the startup ecosystem.
India’s Initiatives :
- India proposed the SWG initiative in 2020, aiming to create a new pillar of cooperation within the SCO.
- DPIIT has organized various initiatives for the startup ecosystem, expanding the innovation footprint and inspiring other SCO Member States.
Significance :
- The SCO Startup Forum serves as a platform to empower local startup ecosystems in SCO Member States, providing mentoring and access to investor and corporate engagement activities.
- The creation of the SWG signifies a commitment to fostering collaboration and driving regional economic growth through innovation and entrepreneurship.
What is SCO?
- SCO is a permanent intergovernmental international organisation.
- It’s a Eurasian political, economic and military organisation aiming to maintain peace, security and stability in the region.
- It was created in 2001.
- The SCO Charter was signed in 2002, and entered into force in 2003.
- It is a statutory document which outlines the organisation’s goals and principles, as well as its structure and core activities.
- The SCO’s official languages are Russian and Chinese.
