In a strategic move to bolster India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a partnership with Flipkart, the homegrown e-commerce giant. The Memorandum of Understanding (MoU) aims to support and mentor tech startups across India, providing them with resources, industry insights, and access to funding.
The collaboration builds on Flipkart’s existing initiatives, including its Flipkart Leap and Ventures programs, backed by a USD 100 million fund. Since its inception, Flipkart has invested in 20 high-potential startups and continues to seek out new companies with promising growth trajectories. The partnership will offer startups valuable access to industry reports, research papers, datasets, and other market insights published by government authorities. Additionally, startups will benefit from fast-tracked patent applications to seize timely opportunities.
This MoU reinforces DPIIT’s commitment to enhancing the accessibility of its Startup India program, which aims to foster innovation and entrepreneurship throughout the country. It also facilitates broader participation and adoption of startup initiatives, further fueling India’s entrepreneurial spirit.
Mr. Sanjiv, Joint Secretary of Startup India, highlighted that the partnership reflects the nation’s ambition to foster innovation-driven progress. He stated, “This collaboration will create a thriving environment for startups to scale new heights and transform ideas into impactful solutions, strengthening India’s position as a global innovation leader.”
Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart Group, expressed that the MoU aligns with Flipkart’s goal of empowering startups through strategic support and global market connections. He emphasized that with the backing of Flipkart’s venture fund, the company seeks to unlock opportunities for entrepreneurs, helping them at various stages, from prototype development to international expansion. Flipkart’s continued association with DPIIT will aim to shape the future of technology and business in India and beyond.
