New Delhi: In a landmark move to bolster India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Flipkart, India’s leading homegrown e-commerce platform. The partnership aims to nurture and empower tech startups across the country, leveraging the resources and expertise of both entities.
Building on Flipkart’s Leap and Ventures initiative with its $100 million fund, the collaboration underscores a shared commitment to foster innovation and entrepreneurship. Flipkart has already invested in 20 high-potential startups and continues to identify new opportunities to support visionary entrepreneurs.
Through this partnership, startups will gain access to:
- Industry reports, research papers, and datasets to aid market research.
- Fast-tracked patent application processes, ensuring timely opportunities.
- Connections to Startup India’s extensive program and network, enhancing program adoption and reach.
Highlighting the importance of the initiative, Sanjiv, Joint Secretary, Startup India, remarked, “Startup India represents the spirit of innovation and entrepreneurship that drives our nation’s progress. This MoU will create synergies to foster a thriving environment for startups to scale new heights.” He emphasized that the collaboration would accelerate the transformation of ideas into impactful solutions, further strengthening India’s position as a global innovation leader.
Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, affirmed the company’s commitment to empowering startups. He stated, “This MoU reflects our goal of supporting startups through strategic resources, global market connections, and our $100 million venture fund.”
Kumar highlighted Flipkart’s role in providing resources for various milestones, such as prototype development, as well as guidance and insights for startups seeking international expansion. He added that the collaboration aims to unlock opportunities for breakthroughs that shape the future of technology and business in India and beyond.
The partnership between DPIIT and Flipkart is set to create a synergistic ecosystem where startups can thrive, transforming ideas into groundbreaking solutions. With robust government support and industry backing, India’s ambition to emerge as a global innovation hub takes another significant step forward.
This initiative aligns with the broader goals of Startup India, a flagship program that has propelled India to the forefront of the global entrepreneurial landscape. The collaboration is expected to pave the way for sustained growth, inspiring a new generation of innovators and entrepreneurs.
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