The proposal for a shared incubator network and innovation fund aims to strengthen entrepreneurship, investment, and startup collaboration across BRICS nations.
India has now proposed the creation of BRICS Startup Incubator Network and a dedicated Startup Innovation Fund with the aim to strengthen entrepreneurial cooperation among member nations. The proposal was presented during the 10th BRICS Industry Minister’s Meeting in Jaipur as part of India’s broader agenda to promote innovation-led economic growth and deeper industrial partnerships.
The initiative seeks to connect startups, incubators, investors, and innovation ecosystems across BRICS countries, making it easier for emerging businesses to collaborate, access funding, and expand into new markets. The proposal comes at a time when member nations are looking to leverage technology and entrepreneurship as key drivers of sustainable economic development.
Aiming to build a stronger startup ecosystem.
The proposed incubator network is intended to facilitate knowledge sharing, mentorship, research collaboration and market access for startups operating across the BRICS bloc. By linking incubators from different countries, the initiative could encourage entrepreneurs to exchange expertise, develop joint ventures and scale innovative solutions beyond their domestic markets.
Alongside the incubator network, India has suggested establishing a Startup Innovation Fund that would support promising ventures with financial resources, particularly those working on technology-driven solutions with regional or global relevance. While details of the funding structure are yet to be finalised, the proposal reflects a growing emphasis on collaborative investment in innovation.
Industrial cooperation extends beyond startups.
The ministers also adopted a joint declaration covering broader areas of industrial cooperation. In addition to startups, discussions focused on strengthening collaboration in micro, small and medium enterprises (MSMEs), logistics, advanced manufacturing and photovoltaic technologies.
The declaration highlights the shared objective of improving industrial competitiveness while encouraging innovation across sectors that are expected to play a significant role in future economic growth.
Industry observers note that stronger institutional links between incubators and investors could help reduce barriers faced by early-stage startups, particularly those seeking international expansion. Greater collaboration may also encourage technology transfer, cross-border partnerships and the development of scalable solutions addressing common economic and industrial challenges.
