BRICS Startup Support Fund Could Drive Group's Technology Ecosystem
© Sputnik / Grigory Sysoev
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India has proposed setting up a startup support fund and a network of incubators within BRICS to boost innovation among member countries.
India's proposal to establish a BRICS Startup Support Fund and a network of incubators reflects the grouping's shift from political coordination to innovation-driven economic cooperation, experts have said.
"In practice, the fund could operate as a multilateral financing mechanism under the New Development Bank, providing seed capital, concessional loans, and venture funding to startups selected through joint evaluation by member countries. Complementing this, a BRICS incubator network could connect leading universities, research institutions, and technology parks, enabling startups to access mentorship, laboratories, regulatory guidance, and cross-border markets," Dr Raj Kumar Sharma, an Associate Professor at the School of Social Sciences, Business and Law, Suleyman Demirel University, Almaty, Kazakhstan, told Sputnik India.
Priority support is likely to be extended to projects aligned with BRICS' developmental priorities. These include artificial intelligence, fintech and digital public infrastructure, health technologies, renewable energy and green hydrogen, agri-tech, climate-resilient agriculture, space applications, cybersecurity, and critical mineral processing. Collaborative ventures involving startups from two or more BRICS countries could receive preferential funding, encouraging technology transfer and joint intellectual property creation, he added.
Such initiatives can significantly deepen technological cooperation within BRICS. First, they would reduce dependence on Western-dominated innovation ecosystems by fostering indigenous technologies and resilient supply chains. Second, they would facilitate knowledge exchange, researcher mobility, and commercialisation of research across member states. Third, they could promote interoperability in digital standards, digital payments, and emerging technologies while supporting local innovation ecosystems in developing economies, the academic reckoned.
Such initiatives can significantly deepen technological cooperation within BRICS. First, they would reduce dependence on Western-dominated innovation ecosystems by fostering indigenous technologies and resilient supply chains. Second, they would facilitate knowledge exchange, researcher mobility, and commercialisation of research across member states. Third, they could promote interoperability in digital standards, digital payments, and emerging technologies while supporting local innovation ecosystems in developing economies, the academic reckoned.
"Finally, stronger startup linkages would complement existing BRICS cooperation in science, technology, and the digital economy, reinforcing the bloc's aspiration to emerge as a major driver of innovation in a multipolar world," Sharma stressed.
For India, these initiatives align closely with programmes such as Startup India, Digital India, Atmanirbhar Bharat, and the country's expanding digital public infrastructure model, he highlighted.
Indian startups have demonstrated expertise in digital payments, health-tech, space technology, and software services, while other BRICS members contribute strengths in advanced manufacturing, biotechnology, energy technologies, minerals, and large-scale industrial capabilities. Their complementarities can create significant innovation synergies, the strategic affairs pundit underscored.
Indian startups have demonstrated expertise in digital payments, health-tech, space technology, and software services, while other BRICS members contribute strengths in advanced manufacturing, biotechnology, energy technologies, minerals, and large-scale industrial capabilities. Their complementarities can create significant innovation synergies, the strategic affairs pundit underscored.
"However, the success of these proposals will depend on overcoming several challenges. Differences in regulatory standards, intellectual property (IP) protection, data governance frameworks, financing rules, and geopolitical tensions could slow implementation. Clear governance mechanisms, transparent funding criteria, robust IP-sharing arrangements, and private-sector participation will therefore be essential," Sharma emphasised.
If implemented effectively, a BRICS startup support fund and network of incubators could become the foundation of a broader BRICS technology ecosystem, enabling member countries to collectively nurture innovation and compete in emerging technologies. Yet, its success will depend on sustained financing, institutional coordination, and protection of intellectual property, he noted.
Overall, the initiative has the potential to transform BRICS from primarily an economic grouping into a collaborative innovation and technology platform, enhancing technological self-reliance, fostering South-South cooperation, and increasing the bloc's collective competitiveness in the global technology race, the observer remarked.
Meanwhile, Dr Indrani Talukdar, a Fellow at the New Delhi-based geopolitical think tank Chintan Research Foundation (CRF), believes that India's proposal for a BRICS Incubator Network is timely and valuable.
Overall, the initiative has the potential to transform BRICS from primarily an economic grouping into a collaborative innovation and technology platform, enhancing technological self-reliance, fostering South-South cooperation, and increasing the bloc's collective competitiveness in the global technology race, the observer remarked.
Meanwhile, Dr Indrani Talukdar, a Fellow at the New Delhi-based geopolitical think tank Chintan Research Foundation (CRF), believes that India's proposal for a BRICS Incubator Network is timely and valuable.
"By linking existing incubators, universities, research institutions, technology parks, and accelerators through a common platform, it could facilitate access to investors and manufacturers, technology and patent sharing, mentoring, market-entry support, joint innovation programmes, pilot projects, and assistance with regulatory and intellectual-property requirements," Talukdar stated in an interview with Sputnik India.
Potential areas of support include clean energy, water and climate resilience, affordable health technology, digital systems, agriculture and food security, logistics and manufacturing, and space and geospatial applications, she underlined.
These initiatives could connect BRICS innovation ecosystems, enable cross-border collaboration, and convert policy dialogue into joint prototypes, field trials, technology transfers, and commercial partnerships. They could also promote resilient technology supply chains and broaden BRICS cooperation by engaging startups, universities, MSMEs, and young innovators. Thus, the proposed fund and incubator network could serve as a practical bridge between BRICS research, entrepreneurship, and industrial cooperation, the analyst concluded.
These initiatives could connect BRICS innovation ecosystems, enable cross-border collaboration, and convert policy dialogue into joint prototypes, field trials, technology transfers, and commercial partnerships. They could also promote resilient technology supply chains and broaden BRICS cooperation by engaging startups, universities, MSMEs, and young innovators. Thus, the proposed fund and incubator network could serve as a practical bridge between BRICS research, entrepreneurship, and industrial cooperation, the analyst concluded.
