The Department for Promotion of Industry and Internal Trade (DPIIT) and Flipkart India have signed a Memorandum of Understanding (MoU) to advance tech-driven innovation and foster India’s growing startup ecosystem. This collaboration aims to empower product innovators and entrepreneurs by providing essential resources and support.
Key elements of the MoU include:
1. Support for Startups: Flipkart will utilize its early-stage investment programs, such as Flipkart Ventures and Leap Ahead, to fund and mentor startups.
2. Infrastructure and Resources: Startups will gain access to Flipkart’s infrastructure, market linkages, and mentorship to scale their innovations.
3. Strengthening Startup Ecosystem: This partnership underscores the government and private sector’s shared commitment to supporting innovation and entrepreneurship.
The agreement was signed by Shri Rajneesh Kumar, Chief Corporate Affairs Officer of Flipkart, and Shri Sumeet K Jarangal, Director at DPIIT, in the presence of Shri Sanjiv, Joint Secretary of DPIIT, and other leaders from Flipkart. The initiative aligns with the “Startup India” vision to bolster India’s entrepreneurial landscape.
This MoU highlights a significant step in creating a robust support framework for emerging businesses across the nation.
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