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Updated on: Thursday, August 26, 2021, 11:47 AM IST

MeitY Startup Hub, Paytm collaborate to launch program to support deep-tech startups

The joint efforts of MSH and Paytm aim to create a vibrant ecosystem for SAAS, and app-based startups built on the deep-tech platform technologies | File Image

The joint efforts of MSH and Paytm aim to create a vibrant ecosystem for SAAS, and app-based startups built on the deep-tech platform technologies | File Image

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The MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics and IT (MeitY), has entered into a Memorandum of Understanding with Paytm, MSH and Paytm. Through this collaboration, the aim is to scale deep-tech startups by providing access to platform, knowledge series, experts, resources, and larger community of stakeholders, according to a press release.

The joint efforts of MSH and Paytm aim to create a vibrant ecosystem for SAAS, and app-based startups built on the deep-tech platform technologies such as Artificial Intelligence, Machine Learning, Cloud computing, etc., through support in terms of mentoring, technological assistance, go-to-market strategies.

The collaboration also focuses on fostering partnerships with incubators, accelerators, investors; offering of a "Startup Toolkit" to solve for Payments, Distribution and Growth challenges for early stage startups; providing mentorship and guidance through a Unicorn talk series which aims to inspire new entrepreneurs to build Unicorns out of India; providing subsidized payment gateway services with a view to handhold the Startups in the course of their business journey.

Praveen Sharma, Senior Vice President, Paytm, said, “We believe the collaborative approach will prove truly beneficial for India’s startups”

Welcoming the partnership, Dr. AK Garg, Senior Director, Innovation and IPR Division, MeitY said, “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."

The strategic alliance between MSH and Paytm envisages building a conducive environment by bringing together various stakeholders, synergizing resources, sharing best practices and ideas.

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Published on: Thursday, August 26, 2021, 11:47 AM IST
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