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DPIIT Partners With Corporates, Unicorns To Develop Manufacturing Ecosystem For Startups: Report

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The Department for Promotion of Industry and Internal Trade (DPIIT) has signed agreements with more than 50 companies including ITC, Flipkart, Mercedes-Benz, Hero Moto, and boAT, to foster collaboration between established industries and emerging startups, reported PTI.

The department has been proactively reaching out to a number of large corporates, industry associations, veterans, and unicorns to highlight the importance of creating manufacturing incubators and promoting joint efforts with startups.

“So far, the department has inked memorandum of understandings (MoUs) with over 50 firms for this,” the official was quoted as saying.

Other firms partnering in this initiative include HDFC Capital Advisors, Zepto, Kotak Mahindra Bank, Yes Bank, Paytm, Walmart, and Ather Energy.

The move is part of a broader national effort to enhance the startup ecosystem, particularly in the manufacturing domain, by encouraging innovation and enabling startups to scale efficiently.

This initiative gains significancet as manufacturing startups often face challenges due to high capital costs and limited access to infrastructure.

Manufacturing-focused incubators, therefore, play a vital role by providing shared pilot, scaling, and production facilities, offering plug-and-play options that help reduce initial investment barriers.

These incubators also serve as a bridge between startups and larger industrial players, offering test beds, design centres, prototyping facilities, and assistance in technology management, market access, and risk capital.

According to DPIIT, such incubators can be established by corporates, academic institutions, or research organisations.

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