USA India to promote start-up companies

India and the United States signed a Memorandum of Understanding (MoU) on November 14, 2023, to promote cooperation among startups, address regulatory hurdles, and share best practices on fundraising by entrepreneurs. The MoU was signed in San Francisco during an industry roundtable meeting attended by Indian Commerce and Industry Minister Piyush Goyal.

USA India promote start-ups company.

The MoU aims to strengthen the startup ecosystems in both countries and promote innovation in critical and emerging technologies (CET) as identified under the India-US Initiative for Critical and Emerging Technology (iCET). The specific objectives of the MoU include

Connecting the two sides' dynamic startup ecosystems

Addressing specific regulatory hurdles to cooperation

Sharing information and best practices for startup fundraising

Promoting innovation and job growth, particularly in CET areas

The MoU is expected to have a positive impact on economic activity, attract investment, and generate employment in both India and the United States. It is also expected to foster collaboration between startups in the two countries and accelerate the development of new technologies.

Here are some of the key initiatives that are expected to be undertaken under the MoU:

India-US Innovation Handshake events, These events will bring together startups from both countries to pitch their ideas and technologies to investors and potential partners.

Investment forums, These forums will provide startups with access to capital and opportunities to network with potential investors.

Hackathons, These events will challenge startups to develop innovative solutions to global economic challenges.

The MoU is a significant step forward in strengthening the economic partnership between India and the United States. It is expected to play a key role in promoting innovation, job creation, and economic growth in both countries.