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In a move to boost cooperation among startups and foster innovation, India and the US recently inked a memorandum of understanding (MoU). The agreement, signed in San Francisco under the India-US Commercial Dialogue framework, aims to enhance innovation ecosystems. The MoU focuses on connecting dynamic startup ecosystems, addressing regulatory hurdles, sharing fundraising best practices, and promoting innovation in critical and emerging technologies. The joint commitment is set to strengthen the startup ecosystem, attract investment, and generate employment, especially in areas identified under the India-US initiative for Critical and Emerging Technology. The collaboration includes planned events like an investment forum and a hackathon in Silicon Valley, promoting global collaboration on economic challenges. The initiative was officially launched by Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo, marking a significant step in the growing India-US partnership for the 21st century.
Source: PTI
