Paytm partners with MeitY Startup Hub to support deeptech startups

India's fintech major Paytm today announced it has signed a Memorandum of Understanding (MoU) with the Ministry of Electronics and IT (MeitY) Startup Hub to encourage deep tech startups.

The partnership will facilitate Deep-tech startups to get access to the platform, knowledge series, experts, resources, and a bigger community of stakeholders.

Through mentoring, technological help, and go-to-market strategies, MeitY Startup Hub and Paytm hope to develop a flourishing ecosystem for SaaS and app-based firms built on deep-tech platform technologies such as Artificial Intelligence, Machine Learning, Cloud computing, and others.

“Paytm’s partnership with MeitY Startup Hub will bring numerous benefits for the Indian startup ecosystem. It will aid India’s startups by providing them access to mentorship, networking, and business opportunities. We believe the collaborative approach will prove truly beneficial for India’s startups,” Praveen Sharma, Paytm Senior Vice President said.

The program will also give guidance and assistance through a Unicorn talk series aimed at inspiring young entrepreneurs to develop Unicorns out of India, as well as subsidized payment gateway services to assist businesses on their route to success.

“MeitY Startup Hub, through its association with Paytm, aims to build a strong deep-tech startup ecosystem by providing support for the path-breaking, solution-oriented innovators,” AK Garg Senior Director, Innovation and IPR Division, MeitY said.

“Paytm’s entrepreneurial DNA, strong focus on responsible scaling, futuristic product-orientation, and deep-tech in-house expertise represents a combination of resources and conducive environment for Indian startups to learn, grow and scale the heights of success globally,” he added.

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