New Delhi: The BRICS Startup Innovation Fund has emerged as a potential mechanism to catalyse startups for innovation-led growth, with the BRICS New Delhi Declaration welcoming the establishment of the BRICS Incubator Network and further consideration of the fund.
The announcement was made as BRICS leaders met in New Delhi, India for the XVIII BRICS Summit under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”.
The BRICS Startup Innovation Fund proposal is part of a broader push in the declaration to strengthen innovation, entrepreneurship, technology cooperation and engagement among startups and small and medium enterprises (SMEs) across BRICS economies.
BRICS Startup Innovation Fund Linked to Innovation-Led Growth
Under the Partnership on the New Industrial Revolution (PartNIR), the BRICS leaders highlighted the role of BRICS economies in fostering innovation and advancing technological cooperation, including in Industry 4.0.
The declaration also emphasised deeper engagement among startups and SMEs through intra-BRICS initiatives and exchanges.
It welcomed the efforts of the BRICS PartNIR Innovation Center (BPIC), including events organised in 2026 such as the BRICS Forum on PartNIR.
In this context, the leaders welcomed the establishment of the BRICS Incubator Network and further consideration of a BRICS Startup Innovation Fund, describing it as a potential mechanism to catalyse startups for innovation-led growth.
The declaration also appreciated the strengthening of the BRICS Startup Knowledge Hub and the BRICS Startup Forum.
Together, these initiatives form part of the broader BRICS cooperation framework around entrepreneurship, innovation and technology.
The leaders further agreed to foster entrepreneurship and startup-led innovation through industrial park developments and other national initiatives for industrialisation.
These efforts are intended to facilitate input linkages, increase manufacturing industry exports, expand market access for MSMEs, support technology transfer and cooperation, improve productivity and promote environmental sustainability.
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BRICS Expands Cooperation on SMEs and Industry 4.0
The BRICS Startup Innovation Fund discussion comes alongside measures aimed at strengthening cooperation among SMEs.
The leaders welcomed the inaugural BRICS SME Forum held in Agra under India’s Chairship and its report, “Advancing MSME Competitiveness in BRICS: Strengthening Access to Finance & Technology and Sustainable Growth”.
The declaration supported the convening of a second SME Forum and welcomed the Framework for Cooperation in the SME Working Group.
BRICS leaders also welcomed the operationalisation of the BRICS Centre for Industrial Competencies, established in cooperation with UNIDO. The platform supports manufacturing companies, including SMEs, in adopting Industry 4.0 and advanced digital production technologies.
The declaration also welcomed the establishment of the India Centre for BRICS Industrial Competencies (ICBIC) and encouraged the BRICS Centre for Industrial Competencies to strengthen engagement with all BRICS countries.
BRICS Startup Innovation Fund: Science, Technology and Innovation Remain Key Priorities
The BRICS Startup Innovation Fund is part of a wider innovation ecosystem outlined in the New Delhi Declaration.
Leaders underscored the importance of cooperation in Science, Technology and Innovation (STI) as a key driver of sustainable economic and social development.
The declaration noted the work of 14 thematic BRICS STI Working Groups and the BRICS STI Steering Committee.
The leaders welcomed the Chennai Consensus Joint Declaration of BRICS STI Ministers and acknowledged the proposed BRICS Science and Research Repository as a structured platform for knowledge storage and sharing among BRICS countries, subject to national laws and regulations and considerations including data security and intellectual property rights.
They also welcomed cooperation in emerging areas such as quantum technologies, as well as the BRICS Working Group on Research Infrastructure and Megascience Projects Action Plan and the proposal to create BRICS Global Research Advanced Infrastructure Network (GRAIN) Centres and a Joint Coordination Committee.
Funding and Research Cooperation Under BRICS STI Framework
The declaration also highlighted the 10-year milestone of the BRICS STI Framework Programme, described as the main mechanism for funding joint scientific research.
A dedicated event is scheduled in Russia in October 2026 to mark the milestone.
Leaders also welcomed the launch of the first Innovation Call, Pilot Flagship Call and the seventh Regular Call for Research Projects and said they looked forward to their results.
The declaration also acknowledged the proposed Virtual Platform for BRICS Youth Startups, intended to facilitate engagement and networking among BRICS Young Scientists and Young Innovators alumni.
The leaders encouraged BRICS members to promote engagement by young researchers and startups through existing mechanisms, including the Young Scientists Forum and the Young Innovators Prize.
