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