The Indian government has signed an agreement with Paytm to provide mentorship, infrastructure support, market access, and funding opportunities for startups.
The partnership, formalised through a Memorandum of Understanding between the Department for Promotion of Industry and Internal Trade and Paytm, aims to drive innovation and growth in the fintech and manufacturing sectors.
Under the collaboration, Paytm will support fintech hardware startups by offering guidance on innovation and mentorship. The initiative seeks to help entrepreneurs develop advanced payment and financial technology solutions.
Additionally, the company will assist startups in navigating regulatory and compliance challenges by organising workshops in collaboration with industry and government bodies.
The partnership will also enable startups to test, validate, and refine their products using Paytm’s extensive merchant network. This infrastructure and market access support is expected to accelerate the commercial viability of emerging technologies in the fintech space.
The agreement was signed in the presence of senior officials, including DPIIT Director Sumeet Kumar Jarangal and Paytm’s Founder and CEO Vijay Shekhar Sharma.
DPIIT Joint Secretary Sanjiv stated that leveraging Paytm’s expertise will help startups overcome challenges and scale their businesses.
Sharma reaffirmed Paytm’s commitment to supporting entrepreneurs with mentorship, financial assistance, and access to advanced technology.
As part of its Paytm for Startups initiative, the company plans to launch dedicated programmes for fintech hardware manufacturers.
These efforts will include mentorship schemes, funding access through investor networks, incubation support, and regulatory guidance. Periodic assessments will also be conducted to track the impact of these initiatives.
This partnership is one of several agreements DPIIT has signed with private firms to foster the startup ecosystem. Other companies that have entered similar pacts include Apna, Rukam Capital, Avaana Capital, Bhaane Group, Flipkart, and ITC.
Follow us
