Govt signs strategic MoUs with key industry leaders to strengthen support to Start Ups
New Delhi, August 08
The Union government today announced a series of strategic Memoranda of Understanding (MoUs) with key industry leaders and ecosystem enablers, which are Cashfree Payments, Darwin Dynamics, Vultr India, Cars24, and the Council for Startup India (CSI).
The MOUs have been signed by the Ministry of Commerce and Industry’s Department for Promotion of Industry and Internal Trade (DPIIT).
The Ministry of Commerce and Industry informed that the MOU signed with Cashfree Payments aims to strengthen digital infrastructure support for startups. It added that the collaboration seeks to combine DPIIT’s institutional reach with Cashfree Payments’ expertise in digital payments to enable startups to scale efficiently and contribute to India’s innovation-led growth.
The MOU signed with Darwin Dynamics LLP aims to strengthen entrepreneurship development and startup ecosystem. The Ministry informed that the partnership aims to expand the reach of the Startup India initiative by promoting entrepreneurship across Tier II, Tier III and rural regions, while enabling greater access to mentorship, institutional networks, market opportunities and capacity-building support for startups.
The Ministry further added that the MOU signed with Vultr India Private Limited focuses on strengthening the technology infrastructure available to DPIIT-recognised startups. The collaboration aims to enhance startups’ access to cloud computing resources, technical capacity-building, and digital infrastructure, enabling them to build, scale and innovate more efficiently.
Furthermore, the DPIIT has partnered with Cars24 Services Private Limited to foster innovation, entrepreneurship and capacity building in India’s mobility and automotive technology ecosystem.
The Ministry said that the collaboration aims to strengthen the startup ecosystem by supporting AI-driven innovation, founder development, skilling, investment opportunities and road safety initiatives.
Meanwhile, the MOU signed with the Council for Startup India (CSI) aims to strengthen support for DPIIT-recognised startups by facilitating access to investment, strategic partnerships, mentorship, leadership development and global markets. The ministry of Commerce and Industry informed that the partnership aims to accelerate the growth of innovation-driven enterprises by enabling startups to scale sustainably and strengthen their global competitiveness.