Flipkart partners with DPIIT to promote Indian startups (#1685012)

E-commerce giant Flipkart has signed a memorandum of understanding (MoU) with the department for promotion of industry and internal trade (DPIIT) to promote the startup ecosystem in India.

With this partnership, Flipkart will make investments and provide support to emerging startups in the country through its startup accelerator program.

Additionally, Flipkart will also help the emerging startups through their prototype development journey and international expansion by providing infrastructural support.

Commenting on the partnership, Rajneesh Kumar, chief corporate affairs officer at Flipkart in a statement said, “With the continued association and combined synergies, we aim to unlock opportunities for entrepreneurs with our $100 million venture fund to pioneer breakthroughs that shape the future of technology and business in India and beyond.”

Sumeet Jarangal, DPIIT director added, “India’s startup ecosystem represents the spirit of innovation and entrepreneurship that drives our nation’s progress. By combining our strengths, this MoU will accelerate the transformation of ideas into impactful solutions, strengthening India’s position as a global innovation leader.”

Flipkart claims to have backed over 20 startups via its accelerator program since its inception in 2022.