With Bangladesh, Nepal, And Bhutan, India Will Launch A Startup Exchange Program

India apparently intends to launch a startup exchange scheme with its bordering nations to encourage entrepreneurship in the area.

According to government sources with direct knowledge of the situation, such an exchange structure has already been formed with Bangladesh, and preparations are in the works to include Bhutan and Nepal in the project as well.

While various exchange programmes have already been carried out with entrepreneurs from Nepal and Bhutan, according to the officials, the new effort has been created to construct a more structured and extensive annual cohort with the two nations.

They continued by saying that the scheme would encourage regional business collaboration. According to information on the partnership’s specifics, the programme will support exchange trips between 50 startups from India and the adjacent country.

The framework was designed with the goal of fostering alliances, commercial ties, and knowledge exchange with the adjacent countries.

The initiative has also been designed to facilitate the sharing of ideas in cutting-edge tech fields. Additionally, it intends to encourage incubator development and provide “the much-needed fillip to the region’s economy.”

The purpose, according to a representative, is to promote communication between incubators and other new and developing sectors in the area, such as technology and innovation.

The official noted that the exchange programme will boost global value chains that are trying to relocate to Southeast Asia and that it might “energise and create a robust interface” between entrepreneurs in India and the surrounding nations.

According to those familiar with the situation, the number of unicorns that have appeared in India over the past three years has rekindled desire for such a plan among the bordering countries.

India’s Startup Partnerships
The Indian government has established an increasing number of startup alliances with nations throughout the world, including the startup exchange programme. Indian authorities have contacted hubs throughout the world to support the local startup ecosystem with the goal of developing talent and learning from best practises around the world.

A Startup Bridge programme was established by India and Qatar last year to link their respective startup ecosystems.

Prior to that, India and Germany also agreed to work together to boost startups and scientific research in the field of artificial intelligence (AI). Prior to that, union minister Piyush Goyal called for fostering business links between Australian and Indian startups.

In the past, India has also entered into agreements with nations like Israel, the Netherlands, and the United Arab Emirates to promote innovation and advance new technology.

The startup ecosystem in India has experienced a significant surge in recent years. Despite the macroeconomic strains and the budget crunch, the number of domestic players is still increasing. More than 96,000 DPIIT-registered firms, 196 government-recognised accelerators, and 1,000+ incubators are currently located in India.