The Department for Promotion of Industry and Internal Trade (DPIIT) has signed two important MoUs to support early-stage startups in scaling their businesses.
According to the DPIIT Joint Secretary, backing from successful unicorn companies is one of the most effective ways to help startups grow, as these startups can learn from the experience of established ventures.
Through the tie-up with Hero MotoCorp, selected startups will gain exclusive access to the company’s research and development facilities in both Germany and India, along with its dealership network and expert mentorship. These startups will also have opportunities to work on paid Proofs of Concept (PoCs), helping them gain valuable exposure to accelerate their growth and visibility. DPIIT highlighted that this partnership will boost product-focused startups tackling India’s mobility challenges and fast-track their progress “from idea to impact.”
The MoU will particularly focus on startups working with emerging technologies and those based in Tier II and Tier III cities. Pawan Munjal, Executive Chairman of Hero MotoCorp, said a vibrant startup ecosystem is essential for making India self-reliant and globally competitive.
The partnership with Zepto will provide startups with mentorship and capacity-building workshops led by industry experts, along with support under the Startup India initiative. The programme will prioritize women-led startups and those from Tier II and Tier III regions, the Commerce Ministry said. Additionally, Zepto plans to onboard over 100 startups into its supply chain, offering them a platform to showcase their products and access new markets.
Kaivalya Vohra, co-founder of Zepto, said this partnership, called the Zepto Nova programme, aims to support manufacturing startups working in hardware, IoT, packaging, and sustainable manufacturing. The quick commerce platform will assist these startups in moving from prototype stages to market-ready solutions.
For feedback and suggestions, write to us at editorial@iiflcapital.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.