Indian Economy News

DPIIT Engages with Startups under FICCI Mercedes-Benz Bharat Innovation & Business Ideas Challenge Programme

The Department for Promotion of Industry and Internal Trade (DPIIT) has reaffirmed its commitment to strengthening India’s startup ecosystem through its participation in the FICCI Mercedes-Benz Bharat Innovation & Business Ideas Challenge Programme. The initiative is designed to identify and support high-potential Indian startups developing innovative and scalable solutions across sectors such as manufacturing, sustainability, education, decarbonisation and automotive/EVs. Addressing the participants, DPIIT Additional Secretary Mr. Ateesh Kumar Singh highlighted that collaborative initiatives between industry and government are helping nurture innovation-led entrepreneurship and enabling startups to develop solutions aligned with national priorities. As part of the programme, seven selected startups will receive a structured post-funding mentoring and handholding framework to accelerate business growth, improve investment readiness and build globally competitive enterprises.

Under the initiative, the selected startups will receive specialised guidance on regulatory and legal compliance, taxation, fund utilisation, fundraising strategies, valuation, term sheet negotiations, data privacy, cybersecurity and intellectual property protection. The programme will also organise dedicated Demo Days, enabling startups to present their innovations before industry leaders, investors and mentors, thereby unlocking partnership and funding opportunities. In addition, the startups will benefit from the Sounding Board Programme, which offers strategic industry insights and leadership mentoring to refine business models and growth strategies. Following a nationwide application process, 32 startups were shortlisted after a rigorous evaluation, with seven startups selected to receive funding support of Rs. 30 lakh each (US$ 31,510) along with comprehensive post-funding business support. The initiative reinforces India's focus on creating a robust innovation ecosystem that supports entrepreneurship, technology-led growth and global competitiveness. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.