The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with e-commerce platform Flipkart to support Indian startups. The Ministry of Commerce & Industry informed that the partnership will provide resources, opportunities, and networks for tech startups to grow

According to the Ministry, the MoU is a continuation of Flipkart’s Leap and Ventures initiative, including a USD 100 million venture fund. Till now, the initiative has supported 20 startups and is looking for more ventures to invest in. Through the collaboration, startups will gain access to industry reports, research papers, datasets, and studies published by government authorities.

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The partnership will provide fast-tracking of patent applications, helping startups access market opportunities faster. DPIIT also added that the MoU connects startups with the Startup India program, which will increase their reach and participation.

Sanjiv, Joint Secretary of Startup India, said “the MoU will create synergy for a thriving environment to enable Startups to scale new heights.”

Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart, stated that the collaboration is intended to foster technological and business breakthroughs and lay the foundation for the next generation of entrepreneurs.

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