SCO Startup Forum to be launched
Part of: GS Prelims and GS-II – International Relations
- The first-ever SCO Startup Forum will be launched on 27th October 2020.
- The forum will lay the foundation for multilateral cooperation and engagement among the Shanghai Cooperation Organisation (SCO) Member States.
- Objective: To develop and improve startup ecosystems collectively.
- The Forum shall identify areas of cooperation by launching multiple entrepreneurial activities like startup showcases through a dedicated virtual platform, mobilizing capital for startups, sharing of best practices, procuring social innovations etc.
- Also, Innovation and Startups will be the key focus area of SCO Heads of Government meeting on 30th November 2020 to be hosted by India.
Important value additions
Shanghai Cooperation Organisation
- SCO or Shanghai Pact is a Eurasian political, economic, and security alliance.
- Its formation was announced on 15 June 2001 in Shanghai, China by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan.
- Current Members: China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan
- Headquarters: Beijing, China
Do you know?
- India is currently the third-largest startup ecosystem in the world with over 35,000 startups.
- Close to 25% of Startups are core technology based operating in areas of AI, Robotics, Cloud Computing, IoT, Digital Health, Financial & Education Technology.
- The ‘Startup India’ has launched 10 bilateral bridges since its inception and has helped many technology-based startups to expand their businesses to global markets.