India-US inked an MoU to boost startup ecosystem innovation
An agreement titled 'Enhancing Innovation Ecosystems through an Innovation Handshake' was signed between India and the United States on November 14, 2023, in San Francisco. This Memorandum of Understanding (MoU) falls within the framework of the India-US Commercial Dialogue. As per a Ministry of Commerce media briefing, the signing took place during the inaugural industry roundtable titled 'Decoding the 'Innovation Handshake' US-India Entrepreneurship Partnership' held in San Francisco.
The MoU was signed between India's Minister of Commerce & Industry, Piyush Goyal, and the US Secretary of Commerce, Gina Raimondo. This recent development follows the joint statement made by leaders during Prime Minister Narendra Modi's official state visit to the US in June 2023, where they announced the inception of the 'Innovation Handshake'.
During the event, which was co-hosted by the US-India Business Council (USIBC) and the Confederation of Indian Industry (CII) and supported by the National Association of Software and Service Companies (NASSCOM) and Startup India, CEOs of major ICT companies, executives from venture capital firms, and founders of startups in the critical and emerging technology sectors convened to explore methods for enhancing technology collaboration between the US and India.
