The Department for Promotion of Industry and Internal Trade, in a major move to bolster India’s startup ecosystem, has tied up with Flipkart, one of the largest e-commerce companies.
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This deal is expected to help start-ups across the country, offering them strategic support, international market access, and funding through Flipkart’s USD 100 million venture fund.
This initiative is aimed at providing innovation and entrepreneurship. So far, Flipkart has invested in 20 companies and will now focus on mentorship of high-potential startups. The collaboration will enable research, data, and other access to resources that will ensure the growth of startups, and they will also get advantage from government programs like Startup India in accelerating their business expansion.
Joint Secretary of Startup India, Mr. Sanjiv, said that this initiative will equip the entrepreneurs to transform innovative ideas into effective solutions, which will give startups new heights. He added that the company Flipkart is focusing on technology acceleration and empowering entrepreneurs with resources and funding for achieving key milestones, to which he added, with guidance.
This collaboration highlights India’s increasing focus on innovation and its ambition to become a global startup hub.
Also read: Government’s ₹56,113 Lakh Funding Fuels Growth of Rural Businesses Under SVEP
Published on: December 8, 2024 at 10.30 PM GMT.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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