During the BRICS Leaders' Summit hosted by India, the member countries supported strengthening cooperation in the field of startups and innovation. According to the Delhi Declaration signed on Saturday, these steps include the creation of a proposed BRICS Innovation Fund for startups, an incubator network, and a virtual platform for youth startups.
India is hosting the summit under the theme 'Building Resilience, Innovation, Cooperation, and Sustainable Development,' where innovation is one of the key agenda items for the group.
The declaration states that the proposed Innovation Fund for startups will aim to bridge the financial gaps faced by startups at various stages of development by encouraging voluntary mobilization of funds from public and private sources.
Furthermore, the group welcomed the establishment of the BRICS Incubator Network, which will connect incubators and national competent authorities in BRICS countries to facilitate access to cross-border markets and stimulate innovation-based entrepreneurship.
The declaration emphasizes that 'We welcome the establishment of the BRICS Incubator Network and further consideration of the BRICS Innovation Fund for Startups as a potential mechanism to catalyze startups for innovation-driven growth. We also value the strengthening of the BRICS Startup Knowledge Hub and the BRICS Startup Forum.'
The countries also supported the BRICS Youth Startup Platform—a virtual venue designed to foster dialogue and provide support to young startups in BRICS countries. This platform aims to ensure interaction and networking among young scientists and innovators, as well as facilitate voluntary exchange.
The declaration recognized the need to stimulate funding for startups in early and growth stages, with the proposed youth startup platform aligning with the goals of the BRICS Innovation Fund.
BRICS countries also agreed to develop startup-initiated entrepreneurship and innovation as part of efforts to promote industrialization and structural transformation. The declaration noted that 'recognizing the key role of the industrial sector in achieving economic growth and structural transformation, we agree to encourage startup-initiated entrepreneurship and innovation, including through the development of industrial parks and other national industrialization initiatives to facilitate supply chain linkages, increase manufacturing exports, access to SME markets, technology transfer, collaboration, productivity, and environmental sustainability.'
The group also highlighted the role of young researchers and startups in advancing innovation, economic growth, and future competitiveness.
In conclusion, it was stated: 'Recognizing the vital role of youth in driving innovation and contributing to our collective prosperity, economic growth, and future competitiveness, we call on BRICS members to facilitate the involvement of young researchers and startups through established mechanisms, including the Young Scientists Forum and the Young Innovators Award.'
Meanwhile, the Bharat Innovates Expo 2026 showcased Indian innovations aimed at building a sustainable and viable future. The exhibition included live demonstrations, interactive installations, and startup presentations on themes of innovation, sustainability, and resilience.
