India recently hosted the third edition of the Shanghai Cooperation Organisation (SCO) Startup Forum in the form of the first-ever physical event in New Delhi. The event was organized by Startup India, the Department of Promotion for Industry and Internal Trade under the Ministry of Commerce. The forum aimed to expand startup interactions among SCO Member States and encourage innovation, employment generation, and talent building.
The forum witnessed physical participation from SCO Member States, including a delegation of government officials, private industry players, incubators, and startups. Union Minister of State, Ministry of Commerce & Industry, Shri Som Parkash delivered the keynote address, highlighting the role of the startup ecosystem in boosting the economy of a nation.
Smt. Manmeet Kaur Nanda, Joint Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, addressed the delegation about India’s startup journey and initiatives for promoting startups by the Government of India.
The SCO Startup Forum focused on collaboration and entrepreneurship. 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 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.
The delegation also visited the Foundation for Innovation and Technology Transfer (FITT) at Indian Institute of Technology (IIT), Delhi, where a startup showcase was organized. The participants visited the facility to receive first-hand experience of the Indian startup ecosystem. The incubator visit focused on highlighting the nuances of funding, mentorship, and opportunities provided to support startups at the scaling stage in India.
Startup India had previously organized various initiatives for 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 customized 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 organized a three-month-long virtual mentorship series called “Starting-Up” for nominated startups to build capacity among the SCO startup founders.
Also Read: SCO Summit: India will host Summit in New Delhi on July 3-4
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