Commerce and Industry Minister Piyush Goyal emphasized the importance of collaboration among member nations of the Shanghai Cooperation Organisation (SCO) to bolster the startup ecosystem in India. During the launch of the India-SCO Startup Forum, Goyal highlighted that sharing best practices, knowledge, and engaging investors from SCO member nations would play a vital role in enhancing innovation and disruption in the emerging future.
Fostering Innovation Through Collaboration
Goyal underscored that the forum provides a platform for startups to showcase their unique concepts and innovations to a broader audience. By facilitating the exchange of best practices, knowledge sharing, and engagement with corporates and investors from SCO member nations, the forum aims to mobilize capital, establish incubators, and provide market access to startups.
SCO Member Nations’ Participation
The SCO comprises eight member nations, namely China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, and Uzbekistan. Goyal highlighted that the forum presents an opportunity for member nations to leverage their collective experiences and foster mutual learning.
Strengthening Startup Ecosystem
Guruprasad Mohapatra, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), highlighted the significant strides made under the Startup India initiative since its inception in 2016. With over 35,500 recognized startups spanning 590 districts across 28 states and 8 union territories, Mohapatra emphasized the forum’s role in fostering multinational cooperation and strengthening the startup ecosystem collectively.
Empowering Local Startups
The India-SCO Startup Forum, jointly launched by the Confederation of Indian Industry (CII) and DPIIT, aims to empower the local startup ecosystem by facilitating access to investors and corporates. Through collaborative efforts and engagement among member states, the forum seeks to drive innovation, entrepreneurship, and economic growth in the region.
The launch of the India-SCO Startup Forum marks a significant step towards fostering collaboration and driving innovation-led growth across SCO member nations.
