Walmart-owned Flipkart partners with DPIIT to invest and mentor Indian startups

Walmart-owned ecommerce giant Flipkart has partnered and signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to support and empower tech startups in India.

The partnership, which is aimed at encouraging the growth of innovators and entrepreneurs, is an extension of Flipkart's existing efforts under the Flipkart Leap and Ventures initiative with its $100 million fund.

Notably, this will enable access for startups to industry reports, research papers, datasets and other studies published by government authorities for market research and fast-track patent applications filed by startups for timely opportunities.

Empowering startups

Flipkart will provide resources, guidance, and support for different milestones, such as prototype development and offer connections and insights for international expansion.

The company will also provide startups with infrastructural support and access to a stronger network of opportunities, including evaluation for funding under the Flipkart Ventures initiative.

Through the MoU, DPIIT will enable accessibility and connections to Startup India’s ecosystem and network for greater program adoption, reach and participation.

Leadership comments

Speaking on the collaboration, Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, “As an organisation driven by a passion for innovation, Flipkart is honoured to collaborate with DPIIT in advancing India’s startup ecosystem. This MoU reflects our shared goal of empowering startups through strategic support, resource access, and global market connections."

"With the continued association and combined synergies, we aim to unlock opportunities for entrepreneurs with our 100 million USD venture fund to pioneer breakthroughs that shape the future of technology and business in India and beyond," Kumar added.

At the signing of the MoU, Sumeet Jarangal, Director of DPIIT, said, “India’s startup ecosystem represents the spirit of innovation and entrepreneurship that drives our nation’s progress. We are happy to partner with Flipkart to bolster our focus on creating a thriving environment for startups to scale new heights. By combining our strengths, this MoU will accelerate the transformation of ideas into impactful solutions, strengthening India’s position as a global innovation leader.”