To support the Indian start-up ecosystem, e-commerce giant Flipkart and the Department for Promotion of Industry and Internal Trade (DPIIT) have inked a memorandum of understanding (MoU).
Through this collaboration, Flipkart will invest in and support the nation’s up-and-coming start-ups via its start-up accelerator program. Additionally, by offering infrastructure assistance, Flipkart will assist up-and-coming entrepreneurs with their prototype development and global expansion.
Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart, highlighted that through the ongoing partnership and combined synergies, the company aims to create opportunities for entrepreneurs with its US $ 100 million venture fund. The goal is to drive innovations that will shape the future of technology and business both in India and globally.
Sumeet Jarangal, Director at DPIIT, emphasised that India’s start-up ecosystem embodies the spirit of innovation and entrepreneurship, which is key to the nation’s growth. He stated that through this MoU, combining strengths will accelerate turning ideas into impactful solutions, further establishing India as a global leader in innovation.
