RIYADH: The Digital Cooperation Organization, a global initiative focused on improving the digital economy, is working toward encouraging fledgling companies to tap international markets through its startup program.
Called Startup Passport, the program helps startups do business across borders more efficiently while maintaining their footprint in their country of origin, said Hassan Nasser, vice president of international affairs of DPO.
The program has opened up potentially lucrative markets with a combined population of over half a billion people and a combined gross domestic product of nearly SR7.5 trillion ($2 trillion), reported the Saudi Press Agency.
Hassan Nasser
“By creating a new market expansion in DCO countries and beyond, you will positively impact these other markets,” said Naseer.
He said that the expansion of startups would create new economic entities, improve employment within DCO member states and nurture innovative solutions.
By creating a new market expansion in DCO countries and beyond, you will positively impact these other markets.
Hassan Nasser
According to Nasser, these innovative solutions could find wider acceptance with most startups focusing on sustainability and conservation.
In fact, the DCO Global Roundtable Series at the World Telecommunication Development Conference in June was meant to bring together global leaders to advance digital prosperity.
Naseer explained that the roundtable provides a platform for leaders worldwide to exchange perspectives on improving cooperation in the digital space and delivering an inclusive, sustainable digital economy.
The first roundtable had around 35 participants from 20 different countries.
In Nasser’s view, cross-border cooperation is one of the critical reasons for the existence of DCO. “That’s one of the reasons DCO exists, to help on that and drive this cross-border cooperation,” he said.
Developing an efficient model requires cooperation, reducing costs and increasing return on investment by defining the best solution.
“There are a lot of challenges when it comes to digital investment, digital skills, digital empowerment, where we need more cooperation,” Nasser said.
As Nasser explained, DCO does not compete with anything but addresses a gap and complements a need.
The DCO will deliver its future roundtables in Latin America, Europe, Asia, and the United Nations General Assembly in New York.
Commenting on the UN General Assembly, he said it “will be a place where we get a global audience for this important session.”
He added: “A vital component of the organization’s mission is launching initiatives that will benefit all member states.”
With 11 member nations, DCO aspires to bring inclusive growth in the digital economy across its member nations, such as Bahrain, Djibouti, Jordan, Kuwait, Morocco, Nigeria, Oman, Pakistan, Rwanda, Saudi Arabia, and Cyprus.
The organization was launched in early 2022 at LEAP, a global event for future technologies held in Riyadh.