DPIIT and Paytm collaborate to support fintech and manufacturing startups with mentorship, funding, and market access.

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Paytm to strengthen India’s startup ecosystem. This collaboration aims to drive innovation in fintech and manufacturing by providing entrepreneurs with mentorship, funding opportunities, and infrastructure support.

Under this initiative, Paytm will assist startups in scaling their operations, developing fintech hardware, and navigating regulatory challenges. The partnership also includes industry workshops and access to Paytm’s merchant network for product testing and validation.

The MoU was signed by DPIIT Director Sumeet Kumar Jarangal and Paytm CEO Vijay Shekhar Sharma. DPIIT officials emphasised the initiative’s role in fostering a global innovation hub. Paytm will also support fintech hardware startups through its Paytm for Startups program and CSR arm, backing ventures in Climate Tech, Web3, Agritech, and Mobility. This collaboration reaffirms India’s commitment to driving technological advancements and economic growth.

Source: PIB