Promotion of Manufacturing and Innovation Ecosystem for Startups
The Department for Promotion of Industry and Internal Trade (DPIIT) has actively engaged with over 50 firms to foster a manufacturing and innovation ecosystem for startups. Notable companies include ITC, Flipkart, and Mercedes-Benz.
Objective of the Initiative
- Encourage collaboration with startups in manufacturing.
- Promote the establishment of manufacturing incubators.
- Strengthen the startup ecosystem by fostering innovation in manufacturing.
Key Collaborations
Memorandums of Understanding (MoUs) have been signed with:
- boAT
- HDFC Capital Advisors
- Hero Moto
- Zepto
- Kotak Mahindra Bank
- Yes Bank
- Paytm
- Walmart
- Ather Energy
Importance of Manufacturing Incubators
- Support for Startups: Essential for the growth and scaling of manufacturing startups.
- Facilities: Provide shared resources such as pilot facilities, test beds, and prototyping centers.
- Integration: Act as interfaces between startups and larger companies, facilitating technology management, market access, and risk capital.
Entities Involved in Setting Up Incubators
- Corporates
- Academic Institutes
- Research Institutes