In a move to foster the growth of Indian startups and help them expand globally, the Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Stride Ventures, a prominent venture debt firm.
This collaboration, announced on Saturday, aims to support the development of startups across the country by providing both financial resources and strategic guidance to help them scale and reach international markets.
Stride Ventures, known for its expertise in venture debt, will play a crucial role in curating tailored programmes and engaging in initiatives like the ‘Bharat Grand Challenge’ to foster innovation, entrepreneurship, and investment in the startup ecosystem.
The partnership is designed to create valuable opportunities for startups by merging financial backing with strategic mentorship, as well as providing them with greater access to global markets.
Ishpreet Singh Gandhi, the Founder and Managing Partner of Stride Ventures, emphasised the importance of the partnership, stating that it would accelerate the mission of empowering entrepreneurs in India to “Make in India” and develop solutions that resonate globally.
Gandhi further noted that the partnership aligns with Stride Ventures' broader commitment of investing billions in nurturing startups, which reflects their dedication to enhancing India’s vibrant startup ecosystem.
The combined efforts of DPIIT and Stride Ventures aim to unlock immense potential, positioning Indian startups for transformative success on the global stage.
The partnership focuses on identifying high-growth startups and providing them with essential support, including funding, policy backing, and access to valuable markets.
This initiative will particularly benefit startups from tier 2 and tier 3 cities, which will receive targeted mentorship and guidance to scale up. Additionally, the collaboration offers startups access to a global network of mentors, further strengthening their capabilities to grow internationally.
An important aspect of the initiative is the promotion of diverse fundraising options, particularly venture debt. This financial tool is designed to help startups achieve their growth goals without giving up equity, thus providing them with more flexibility as they expand.
By raising awareness about such instruments, the collaboration aims to empower startups to pursue their aspirations with a broader range of financial resources at their disposal.
This joint initiative aligns closely with India’s broader economic strategies, such as ‘Make in India’ and ‘Make for the World’.
The focus is on key sectors including manufacturing, consumer goods, business-to-business (B2B) solutions, and cleantech, areas that are vital for India’s growth in the global market. Through these efforts, DPIIT and Stride Ventures hope to elevate India’s startup ecosystem and increase its global competitiveness.
As of December 25, the DPIIT has recognised over 157,000 startups, and the Startup India portal has more than 759,000 registered users. Among these, over 73,000 startups have at least one woman director, reflecting the growing diversity and inclusivity within the Indian startup landscape.
The government’s ongoing support for this sector continues to yield positive results, with the number of recognised startups steadily increasing, signalling the dynamic and evolving nature of India’s entrepreneurial spirit.
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