The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to promote innovation and speed up the development of fintech and manufacturing startups in India.
As per DPIIT, this partnership aims to offer crucial assistance to entrepreneurs, allowing them to expand their enterprises and strengthen India's status as a worldwide leader in innovative financial technologies.
Through this collaboration, Paytm will provide guidance, infrastructure assistance, market access, and funding opportunities, especially for startups in the fintech hardware industry.
The program aims to provide entrepreneurs with essential resources to create innovative payment and financial technology solutions.
The partnership between DPIIT and Paytm emphasizes mentorship and innovation support, regulatory and compliance guidance, as well as infrastructure and market access assistance.
As a component of its Paytm for Startups program, the company will launch specialized initiatives to assist fintech hardware producers, such as Soundbox and PoS/EDC device manufacturers, facilitating effective growth.
These efforts will feature mentorship schemes for fintech hardware startups, funding access via investor networks and incubation programs, guidance on regulations, industry-specific workshops, and tracking and impact evaluation through regular progress reports.
Furthermore, via its CSR division, Paytm Foundation, the organization is fostering deep-tech startups in Climate Tech, Web3, Agritech, and Mobility.
We use cookies to ensure you get the best experience on our website. Read more...
