DPIIT signs MoU with Flipkart to invest in and mentor startups
On 9 December 2024, in India, DPIIT announced an MoU with Flipkart to support tech startups, building on Flipkart's Leap Ventures initiative and its USD 100 million fund.
Summary
On 9 December 2024, in India, the Department for Promotion of Industry and Internal Trade (DPIIT) announced it had signed an MoU with Flipkart to support and mentor technology startups across India. The partnership builds on the Flipkart Leap Ventures initiative and its USD 100 million fund, which has invested in 20 companies so far, and will give startups access to government reports and datasets and help fast-track their patent applications.
Key facts
- Announced
- 9 Dec 2024
- Parties
- DPIIT and Flipkart
- Fund
- Flipkart Leap Ventures, USD 100 million
- Invested so far
- 20 companies
Practice MCQs 1 questions
What is the size of the Flipkart Leap Ventures fund on which DPIIT's December 2024 MoU with Flipkart builds?
Show answer
Correct answer: D — USD 100 million
PIB (9 Dec 2024): the partnership builds on existing efforts under the Flipkart Leap and Ventures initiative with its USD 100 mn fund.