Commerce and Industry Minister Piyush Goyal, on Tuesday, launched the India-SCO Startup Forum that aims to improve engagement in startups across the Shanghai Cooperation Organisation (SCO) member nations. The alliance’s members would share best practices, knowledge and would help innovative ideas meet potential investors.
The launch will aid the startups of the member nations by conducting multiple entrepreneurial activities like startup showcases, mobilizing capital for startups, procuring social innovations, multilateral incubator programs, and knowledge exchange workshops, etc. Ministers of Law and Justice of SCO member states in their meeting on Friday emphasized the importance of cooperation among nations on counteraction to the spread of the pandemic.
SCO members include China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, and Uzbekistan. The forum would provide the startups with an opportunity to understand the startup culture in other nations and learn from their experiences.
The Startup India initiative has helped innovative businesses to expand their reach in the country. Currently, India ranks as the third-largest startup ecosystem In the world. The forum would aid the startup ecosystem across the member countries by laying a foundation for the innovative minds of the member nations to engage with each other.