MeitY Startup Hub (MSH), under the aegis of Ministry of Electronics and Information Technology(MeitY) has signed a Memorandum of Understanding with Paytm, a digital payment and financial technology, to support deep tech startups.
To create a deep tech startup ecosystem for Software as a service (SaaS), and app based startups built on deep-tech platform technology like Artificial Intelligence(AI), Machine Learning, Cloud computing by providing support for solution oriented innovators.
Features of the collaboration:
i.This partnership will scale deep tech startups by providing access to platform, knowledge series, experts, resources and a community of stakeholders.
ii.The partnership aims to create a vibrant ecosystem for the startups through mentoring, technological assistance, and go to market strategies.
iii.The partnership between Paytm and MSH will assist the Indian startups through access to mentorship, networking and business opportunities.
The collaboration also focuses on
- Promoting partnerships with incubators, accelerators, investors
- Offering “Startup Toolkit” to solve Payments, Distribution and Growth challenges of early stage startups.
- Providing mentorship and guidance through a Unicorns talk series organised with an aim to inspire entrepreneurs to build Unicorns out of India.
- Providing subsidized payment gateway services with a view to handhold the Startups in their business journey.
Recent Related News:
On July 05, 2021, Paytm, digital payments platform, in partnership with Aditya Birla Finance Ltd., launched a small-ticket instant loans service named ‘Postpaid Mini’. It was as an extension of its ‘Buy Now-Pay Later’ service, to support new-to-credit customers.
About Ministry of Electronics and Information Technology(MeitY):
Union Minister– Ashwini Vaishnaw (Rajya Sabha- Odisha)
Minister of State– Rajeev Chandrasekhar (Rajya Sabha- Karnataka)
Paytm is owned by One97 Communications Limited.
Founder & CEO– Vijay Shekhar Sharma
Headquarters– Noida, Uttar Pradesh