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IPO-bound Paytm and MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics and IT (MeitY), have come together to help scale deep-tech startups by providing access to platform, knowledge series, experts, resources, and a larger community of stakeholders.
Both sides have now entered into a Memorandum of Understanding for this collaboration.
The joint efforts of MSH and Paytm aim to create a vibrant ecosystem for Software-as-a-Service (SaaS), and app-based start-ups 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 focusses on fostering partnerships with incubators, accelerators, investors; offering of a “Start-up Toolkit” to solve for payments, distribution and growth challenges for early stage start-ups; providing mentorship and guidance through a Unicorn talk series which aims to inspire new entrepreneurs to build Unicorns out of India; providing subsidised payment gateway services with a view to handhold the start-ups in the course of their business journey.
Praveen Sharma, Paytm Senior Vice President said in a statement, “Paytm’s partnership with MeitY Startup Hub (MSH) will bring numerous benefits to the Indian start-up ecosystem. It will aid India’s start-ups by providing them access to mentorship, networking and business opportunities. We believe the collaborative approach will prove truly beneficial for India’s start-ups. We applaud the government’s efforts for India’s entrepreneurial ecosystem and being an Indian start-up, we are grateful to play a role in further boosting the same,”
AK Garg, Senior Director, Innovation and IPR Division, MeitY said that “MeitY Start-up 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. Paytm’s entrepreneurial DNA, strong focus on responsible scaling, futuristic product-orientation, and deep-tech in-house expertise represents a combination of resources and a conducive environment for Indian start-ups to learn, grow and scale the heights of success globally”.
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