The BRICS grouping has given a strong push to entrepreneurship and innovation by backing a proposal to create a startup incubator network across member countries. The move was included in the New Delhi Declaration, highlighting the bloc’s growing focus on startups, technology and cross-border business opportunities.
The declaration also mentioned the possibility of setting up an innovation fund, which could provide additional support to startups working on new technologies and solutions.
BRICS strengthens support for startups
The decision comes as startups increasingly become an important part of economic growth, job creation and technological development. BRICS countries have large and diverse startup ecosystems, with India, China, Brazil, Russia, South Africa and other member economies contributing significantly to global entrepreneurship.
The proposed BRICS startup incubator network could help entrepreneurs access mentorship, market knowledge, investors and innovation ecosystems across member countries.
Key areas of potential cooperation include:
- Startup incubation and acceleration
- Cross-border market access
- Technology and innovation exchange
- Mentorship and networking
- Investment and funding opportunities
- Collaboration between entrepreneurs and institutions
For Indian startups, greater connectivity with other BRICS markets could open opportunities beyond the domestic market.
Innovation fund could boost technology-led businesses
Alongside the incubator network, BRICS is also considering an innovation fund. While the details of the proposed fund would depend on further discussions, such an initiative could provide financial support to businesses developing innovative products and technologies.
An innovation fund could potentially focus on areas such as artificial intelligence, digital technology, clean energy, healthcare, advanced manufacturing and other emerging sectors.
| Initiative | Potential benefit |
|---|---|
| BRICS startup incubator network | Mentorship and ecosystem access |
| Innovation fund | Potential financing for innovative startups |
| Cross-border collaboration | Access to new markets and partners |
| Technology cooperation | Knowledge and innovation sharing |
The proposals indicate that startup collaboration is becoming an important component of economic cooperation within BRICS.
Why the New Delhi Declaration matters
The New Delhi Declaration reflects the broader effort by BRICS countries to deepen cooperation in areas beyond traditional trade and investment. Innovation and entrepreneurship are increasingly being viewed as important drivers of future economic growth.
A coordinated startup ecosystem could also make it easier for entrepreneurs to understand regulations, identify business partners and explore opportunities in other member economies.
For India, the development is particularly relevant as the country continues to build one of the world’s largest startup ecosystems. Greater international collaboration could help Indian founders gain exposure to new customers, investors and technology partners.
What it means for the BRICS startup ecosystem
The success of the proposed initiatives will ultimately depend on implementation. A well-connected BRICS startup network could become a valuable platform if member countries create practical mechanisms for funding, incubation, knowledge sharing and market access.
The proposed innovation fund could further strengthen this ecosystem by addressing one of the biggest challenges faced by early-stage companies: access to capital.
Overall, the New Delhi Declaration signals a stronger commitment to entrepreneurship, innovation and startup cooperation within BRICS. If these proposals translate into concrete programmes, they could create new opportunities for startups looking to expand across member markets while strengthening the bloc’s position in the global innovation economy.
