Government inks pact with Paytm for mentorship, market access, funding opportunities for startups
Paytm (One 97 communications Ltd) under which the company would provide mentorship, infrastructure support, market access, and funding opportunities to startups, an official statement said on Wednesday. The Memorandum of Understanding (MoU) was signed by the Department for Promotion of Industry and Internal Trade (DPIIT) with Paytm to foster innovation and accelerate the growth of manufacturing and fintech startups in India, the commerce and industry ministry said.
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«As part of this collaboration, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups, helping them scale and innovate,» it added.
This initiative, it said, aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.
According to the DPIIT, the partnership aims to support fintech hardware startups through mentorship and innovation guidance, helping them develop and scale payment and financial technology solutions.
«It also focuses on regulatory and compliance assistance by organising workshops and providing guidance in collaboration with industry and government bodies,» the ministry said.
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