E-commerce major, Flipkart has opened applications for the second cohort of its start-up accelerator program, Flipkart Leap.
In the second cohort, Flipkart Leap has been expanded into two new programmes - Flipkart Leap Ahead (FLA) and Flipkart Leap Innovation Network (FLIN). Both programmes will be accepting start-up applications from January 17 to February 28, 2022. Flipkart Leap programme graduated its first cohort in July 2021 with eight start-ups.
Flipkart Leap Ahead will provide equity-based investments into start-ups across sectors. Whereas, Flipkart Leap Innovation Network will enable companies to enter into commercial partnerships with Flipkart’s technology teams. Designed to cater to the dynamic needs of start-ups across different stages, these two new programmes will support the start-ups through insights, mentorship and funding as needed, while helping them scale and build disruptive innovations.
Ravi Iyer, Senior Vice President and Head - Corporate Development, Flipkart said, “As a homegrown company, we are thrilled to bring innovative propositions back to the ecosystem to foster new-age start-ups. With dedicated tracks for early-stage and growth-stage start-ups, the cohort will expand its benefits to a wider pool of entrepreneurs who are solving for Digital India – be it meaningful partnerships and potential projects with Flipkart or equity investment that enables them to scale up further.”
Investment and support
FLA will invest in seed-stage start-ups at the cutting edge of the latest technology across varied sectors, which have disruptive business models and are innovating in areas that are a priority for the Flipkart group. In addition, they will receive an equity investment from Flipkart ranging between $150K - $500K, as well as ecosystem, connects, co-developing products and strategies.
FLIN will look at a wider pool of mature start-ups that have a viable product that solves problems across themes such as - rethinking supply chain, building retail tech, accelerating digital commerce, future of fashion, and redefining customer experience. The start-ups in FLIN will be able to participate in various topical workshops with Flipkart and industry experts, to help them build robust solutions with product market fit for the e-commerce industry.
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