(MENAFN- KNN India) New Delhi, Aug 12 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into strategic partnerships with two major Indian companies to accelerate the growth of early-stage startups.

The government body signed memorandums of understanding with two-wheeler manufacturer Hero MotoCorp and quick commerce platform Zepto, marking significant initiatives to support budding enterprises in mobility and manufacturing sectors.

The DPIIT Joint Secretary emphasized that collaboration with unicorns represents one of the most effective approaches to elevate startups, enabling emerging companies to benefit fr0m the experience and success of established ventures.

These partnerships are designed to provide comprehensive support systems that can help transform startup concepts into market-ready solutions.

Under the Hero MotoCorp partnership, selected startups will gain exclusive access to the company's research and development facilities located in both Germany and India.

The collaboration extends beyond infrastructure access to include mentorship opportunities and integration with Hero's extensive dealership network.

Participating startups will have the opportunity to work on paid Proofs of Concept, providing them with valuable exposure and potential revenue streams that could significantly accelerate their growth trajectory.

The DPIIT stated that this partnership will particularly benefit product-focused startups addressing India's mobility challenges, potentially fast-tracking their development fr0m conceptual ideas to tangible market impact.

The memorandum of understanding specifically targets startups working with emerging technologies and those operating in Tier II and III markets, expanding support to companies beyond major metropolitan areas.

Hero MotoCorp Executive Chairman Pawan Munjal highlighted the importance of a robust startup ecosystem for achieving self-reliance and maintaining global competitiveness.

The partnership reflects the company's commitment to fostering innovation within the mobility sector while supporting the broader entrepreneurial landscape.

The Zepto partnership focuses on providing comprehensive support through mentorship programs and capacity-building workshops led by industry experts, complemented by assistance fr0m the Startup India initiative.

According to the Commerce Ministry, this program will prioritize women-led startups and enterprises operating in Tier II and III cities, addressing regional and gender diversity within the startup ecosystem.

Zepto's collaboration extends to practical market integration, with plans to incorporate over 100 startups into its supply chain operations.

The quick commerce platform will provide participating startups with a dedicated platform to showcase their products and gain direct market access, potentially accelerating their path to commercial success.

Kaivalya Vohra, Co-Founder, Zepto, announced that the partnership will support manufacturing startups through the Zepto Nova program.

The initiative will focus on companies working in hardware, Internet of Things (IoT), packaging, and sustainable manufacturing sectors, helping them transition fr0m prototype development to market-ready solutions.

This comprehensive support system aims to bridge the critical gap between innovation and commercialization that many early-stage companies face.

(KNN Bureau)

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