New Delhi, December 10: In a major initiative to support India’s growing startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Flipkart, a leading homegrown e-commerce platform. The partnership aims to provide Indian tech startups with essential resources, opportunities, and networks to accelerate their growth.
Empowering Startups Through Collaboration
The Ministry of Commerce & Industry highlighted that the MoU aligns with DPIIT’s commitment to fostering entrepreneurship in India. “This partnership with Flipkart will empower tech startups across the country, offering them resources and opportunities to thrive,” the ministry stated.
The collaboration builds on Flipkart’s Leap and Ventures initiative, which includes a USD 100 million venture fund. So far, Flipkart has invested in 20 startups and continues to identify high-potential ventures for further support.
Key Features of the Partnership
Startups will benefit from a range of resources and support under the agreement, including:
- Access to industry reports, research papers, datasets, and studies published by government authorities for market research.
- Fast-tracked patent applications to enable timely market entry and opportunity utilization.
- Integration with the Startup India program to expand their reach and participation in the initiative.
“This MoU will create synergy for a thriving environment, enabling startups to scale new heights,” said Sanjiv, Joint Secretary of Startup India.
Flipkart’s Vision for Innovation
Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart Group, emphasized the company’s dedication to empowering startups through strategic guidance, resource access, and global market connections. “This partnership reflects Flipkart’s vision to pioneer technological and business breakthroughs, shaping the future for the next generation of entrepreneurs,” Kumar added.
Driving Innovation and Entrepreneurship
The MoU marks a significant step in India’s journey to becoming a global leader in innovation and entrepreneurship. With the combined efforts of DPIIT and Flipkart, the initiative is expected to foster groundbreaking advancements and provide a conducive environment for India’s startups to thrive.