Flipkart signs MoU with DPIIT to provide support to tech startups

Domestic ecommerce player Flipkart on Monday said it has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to provide startups with strategic support, resources and market opportunities for expansion and scale.

Under the collaboration, startups will have access to industry reports, research papers, datasets, and other studies published by government bodies, to aid their market research.

Additionally, MoU will facilitate the fast-tracking of patent applications filed by startups, according to a statement. DPIIT will also enable accessibility and connections to Startup India’s ecosystem.

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"Through this collaboration with DPIIT, we are poised to provide startups with the technological expertise, mentorship and resources they need to build transformative solutions," noted Ravi Iyer, Head of Corporate Development, at Flipkart.

Flipkart will provide startups with infrastructure support and access to an enhanced network of opportunities, including evaluation for funding through the Flipkart Ventures initiative. It will also offer resources, guidance, and support at various stages, including prototype development, along with valuable insights for international expansion.

The partnership is on top of Flipkart's existing efforts under the company's Flipkart Leap and Ventures initiative which has invested in over 20 companies through its $100 million fund.

Just last month, Flipkart announced the selection of five innovative startups for the third cohort of its flagship startup accelerator programme, Flipkart Leap Innovation Network (FLIN).

The cohort introduced startups across across GenAI, omnichannel, analytics, and video commerce. The selected startups— Intelligence Node, Invenzo Labs, StoryBrain, Phyllo, and D-ID— are set to run pilot programs with Flipkart to develop solutions.