Politics · India Bureau
BRICS Unites on AI Governance, Startup Fund to Drive Innovation
The BRICS bloc has committed to developing shared artificial intelligence governance frameworks and establishing a startup fund, positioning itself as an alternative innovation hub for entrepreneurs and investors across the Global South.
LSN India ·
BRICS nations have moved to harness artificial intelligence and startup ecosystems as a counterweight to Western-dominated innovation sectors, with India steering the bloc's agenda toward technology-led growth. The commitment reflects broader efforts to nurture emerging markets as destinations for founders and capital, particularly from developing economies seeking alternatives to traditional investment corridors.
The bloc's focus on AI governance marks a significant step toward establishing shared standards and regulatory approaches outside Western frameworks. Rather than adopting external models, BRICS members aim to develop principles suited to their economies and values, positioning the group as an influential voice in shaping global AI policy.
India has leveraged its presidency to advance the innovation agenda, highlighting its AI Impact Summit and financial-hub initiatives as platforms for attracting entrepreneurs and venture investors. These efforts aim to demonstrate BRICS nations' capacity to compete in high-growth technology sectors while creating pathways for startups in member countries and across the broader Global South.
The proposed startup fund represents a structural attempt to channel investment within the bloc and emerging markets, reducing reliance on traditional Silicon Valley-centered venture capital. By institutionalizing support for founders in their regions, BRICS members seek to build self-sustaining innovation ecosystems that retain capital and talent within their borders.