DPIIT Partners with Stride Ventures to Propel Indian Startups Internationally
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New Delhi, Jan 4 (NationPress) The Department for Promotion of Industry and Internal Trade (DPIIT) has officially partnered with Stride Ventures, a notable venture debt firm, to stimulate the development of startups within the nation and enhance their global presence.
Stride Ventures will design specialized programs and engage in initiatives like the 'Bharat Grand Challenge' to foster entrepreneurship, innovation, and investment.
DPIIT, which operates under the Ministry of Commerce and Industry, stated that this partnership will play a crucial role in generating significant opportunities for startups by combining financial assistance with strategic mentorship and market access.
“This partnership with DPIIT invigorates our mission to empower entrepreneurs to 'Make in India' and develop impactful, globally relevant solutions,” remarked Ishpreet Singh Gandhi, the Founder and Managing Partner of Stride Ventures.
“Joining forces with DPIIT, alongside our commitment of a billion dollars to support startups, reinforces our determination to enhance India's startup ecosystem. Together, we aspire to unleash vast potential and create transformative impacts on a global scale,” he further stated.
Stride Ventures will prioritize identifying startups with high growth prospects, providing funding, market access, and policy support.
Startups located in tier 2 and 3 cities will receive focused guidance, mentorship, and access to a global mentor network to facilitate their scaling journey.
Moreover, this initiative aims to raise awareness regarding various fundraising mechanisms, including venture debt, to help startups realize their growth ambitions, according to the VC firm.
This initiative aligns with the ‘Make in India’ and ‘Make for the World’ strategies, focusing on sectors such as manufacturing, consumer, B2B, and cleantech.
To date, nearly 157,066 startups have been recognized by DPIIT, with 759,303 users registered on the portal as of December 25. The country now boasts over 73,000 startups with at least one female director recognized under the ‘Startup India Initiative’, according to the latest government statistics.
