The Ministry of SMEs and Startups said on the 20th that it signed a memorandum of understanding (MOU) on cooperation in the small and midsize enterprise sector with India's Ministry of Micro, Small and Medium Enterprises in New Delhi, India. The agreement was prepared to promote cooperation between the two countries in SMEs and ventures on the occasion of the Korea-India summit.
Through this MOU, the two countries agreed to build an innovation partnership in the SME sector and to operate a Korea-India SME cooperation working group to implement it. They also plan to expand entry into India, which had centered on large corporations, to include SMEs to strengthen the foundation for practical cooperation.
The Ministry of SMEs and Startups (MSS) also held the Korea-India venture and startup job and startup fair, launching full-fledged cooperation on talent exchange and the startup ecosystem. About 200 people attended the event, including both governments, startup companies, venture capital, developers and university students.
In particular, at the dialogue with Korea-India ventures and startups, participants including Chief Executive Lee Cheol-won of Afinit, an AI Fintech startup that successfully entered the Indian market, and Chief Executive Pandit Ravi Shankar of Connect, an Indian startup that won the grand prize at the K-Startup Grand Challenge 2025 for foreigners, discussed ways to expand cooperation and invigorate exchanges.
At the policy briefing, Korea's policies to support foreign entrepreneurs and programs linking overseas software talent recruitment were introduced, followed by questions from local university students and developers. A showcase featuring nine Korean startups was also held at the venue, presenting technologies and products to Indian investors and corporations.
First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS) said, "Korea and India share the common trait of being innovation nations that are growing rapidly based on excellent human resources," and added, "I hope this event in India will serve as an opportunity for the consolidation of the two countries' venture and startup ecosystems and for more active exchanges among innovation talent."