Korea and India Sign SME MOU, Launch Startup Fair in New Delhi

South Korea and India are moving to put small and medium-sized enterprise cooperation at the center of their bilateral relationship. The Ministry of SMEs and Startups (MSS) and India’s Ministry of Micro, Small and Medium Enterprises signed a Memorandum of Understanding on SME cooperation in New Delhi, coinciding with the Korea-India Summit. The agreement establishes a Korea-India SME Cooperation Working Group and lays the groundwork for expanding Korea’s business presence in India beyond the large conglomerates that have historically led the way — opening the market more meaningfully to SMEs.

The same afternoon, the deal was quickly followed by action. The Leela Palace in New Delhi hosted the Korea-India Venture-Startup Employment and Entrepreneurship Fair, drawing around 200 participants from both governments and the broader startup ecosystem — entrepreneurs, venture capitalists, developers, and university students. The event featured three main programs: a Korea-India Venture-Startup Dialogue, an inbound employment and entrepreneurship briefing for Indian talent, and a startup showcase spotlighting Korean companies eyeing the Indian market.

The fair is the latest in a string of MSS-led startup diplomacy efforts across Asia, following the Korea-China Venture-Startup Summit in Shanghai in January and the Korea-Singapore AI Connect Summit in Singapore in March.

Vice Minister Roh Yong-Seok chaired the dialogue, which featured speakers drawn from both sides of the Korea-India startup relationship. Cheol-Won Lee, CEO of AI fintech startup AFINIT, shared his experience building the company’s presence in the Indian market. Ravi Shankar Pandit, CEO of Indian Startup Konnect and grand prize winner of the K-Startup Grand Challenge 2025, spoke from the perspective of an Indian entrepreneur who found his footing through Korea’s ecosystem. Victor Samson, an Indian developer recruited through the Overseas SW Talent Recruitment Program who now leads the technology team at Korean venture company Chart Co., completed the panel with a firsthand account of building a career in Korea.

Ahead of the main dialogue, a policy briefing gave Indian talent a detailed look at Korea’s support programs for foreign entrepreneurs and the Overseas Software Talent Recruitment Program. Local university students and developers packed the room with questions — a sign of growing interest among India’s young innovators in employment and entrepreneurship opportunities in Korea.

Running alongside the main event, a startup showcase featured nine Korean companies — GoPizza, Dynamic Industry, Delta X, Divii School, McKinley Rice, Afiniti, Dental Bridge, Rawid, and TagHive — presenting their technologies and products to Indian investors and businesses.

“Korea and India share the common distinction of being fast-growing innovation nations built on a foundation of exceptional human capital,” Vice Minister Roh said. “We hope this event serves as a catalyst for connecting the venture and startup ecosystems of our two countries and further energizing exchanges between our innovators and talented professionals.”