DPIIT signs five strategic MoUs to help startups scale sustainably

The DPIIT has signed five MoUs with industry leaders like Cashfree Payments and Cars24 to expand access to digital infrastructure, tech, mentorship, and investment for startups, aiming to strengthen India's innovation-led startup ecosystem.

DPIIT Forges Strategic Partnerships to Bolster Startup Ecosystem

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed five strategic Memoranda of Understanding (MoUs) with industry leaders and ecosystem enablers to expand access to digital infrastructure, technology, mentorship, investment and global markets for startups, the Ministry of Commerce and Industry said in a release.

The partnerships with Cashfree Payments, Darwin Dynamics, Vultr India, Cars24 Services and the Council for Startup India (CSI) are aimed at strengthening the support available to DPIIT-recognised startups and helping them scale sustainably, the ministry said.

Partnership with Cashfree Payments

Under the partnership with Cashfree Payments India, eligible startups will get access to secure and scalable payment and payout solutions, identity verification and risk management services, along with preferential onboarding support and commercial benefits.

The collaboration will also include founder workshops, mentoring sessions, AI buildathons, hackathons and knowledge-sharing programmes covering digital payments, compliance, fraud prevention, KYC, cross-border transactions and emerging technologies.

Collaboration with Vultr India

DPIIT's partnership with Vultr India will focus on improving access to cloud computing resources and digital infrastructure. Eligible startups will have access to cloud credits, preferential pricing and technical support, along with training on cloud computing, storage, databases, Kubernetes, networking and application deployment.

MoU with Darwin Dynamics

The MoU with Darwin Dynamics will seek to expand entrepreneurship opportunities in Tier II, Tier III and rural regions through mentorship, institutional networks, market opportunities and capacity-building support. It will also promote innovation in areas including clean energy, green hydrogen, artificial intelligence, climate technologies and advanced manufacturing.

Support from Cars24 Services

Under the partnership with Cars24 Services, startups in the mobility and automotive technology ecosystem will receive support through founder mentorship, mobility and autotech skilling, AI-focused technology enablement, innovation challenges and hackathons. The collaboration will also facilitate investment evaluation and ecosystem engagement.

Engagement with Council for Startup India (CSI)

Meanwhile, the MoU with CSI will focus on investment readiness, corporate engagement, CFO matchmaking, global market access and international innovation collaborations. CSI will also support startups in governance, financial readiness, compliance and international expansion.

Strengthening India's Global Competitiveness

The ministry said the partnerships are expected to improve startups' access to technology, finance, mentorship and commercial opportunities while strengthening India's innovation-led and globally competitive startup ecosystem. (ANI)

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)