The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to foster innovation and accelerate the growth of manufacturing and fintech startups in India.
As part of this collaboration, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups, helping them scale and innovate. This initiative aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.
As part of its Paytm for Startups initiative, Paytm will launch dedicated programs to support fintech hardware manufacturers, such as Soundbox and PoS/EDC device makers, in scaling efficiently. These initiatives include mentorship programs, access to funding through investor connections and incubation programs, regulatory guidance with industry-focused workshops, and periodic tracking and impact assessments. Additionally, through its CSR arm, Paytm Foundation, the company is nurturing deep-tech startups in Climate Tech, Web3, Agritech, and Mobility.
