Latest news with #DPIIT-recognised
Time of India
21-05-2025
- Business
- Time of India
Razorpay partners MeitY Startup Hub
Razorpay has announced a partnership with the MeitY Startup Hub (MSH), an initiative under the Ministry of Electronics and Information Technology. With this partnership, Razorpay and MSH, together, aim to empower the next wave of deep tech and emerging tech startups by providing them access to advanced fintech infrastructure , tailored mentorship, product credits, and an innovation-first ecosystem. MSH, a key pillar of India's tech-forward vision, unites incubation centers, Centres of Excellence, and strategic stakeholders to accelerate the growth of high-impact, tech-driven startups. As India crosses the milestone of over 159,000 DPIIT-recognised startups and 1.6 million jobs created, MSH continues to drive this momentum, especially across Tier 2 and Tier 3 cities, by enabling startups to access mentorship, compliance support, scale sustainably, and build for the future. This partnership is designed to support startups building transformative technologies in areas like AI, blockchain, robotics, IoT, and beyond - providing them the tools, networks, and backing to solve for India, and scale for the world. Under this partnership, all startups associated with MSH will gain access to Razorpay Rize, the company's flagship initiative aimed to empower early-stage startups.
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Business Standard
20-05-2025
- Business
- Business Standard
Razorpay, MeitY Startup Hub partner to boost India's deep-tech startups
Financial technology giant Razorpay has partnered with the MeitY Startup Hub (MSH), an initiative under the Ministry of Electronics and Information Technology. Through this collaboration, the two entities aim to accelerate the growth of deep-tech and emerging technology startups by offering access to Razorpay's fintech infrastructure, customised mentorship, product credits and an innovation-centric ecosystem. The initiative is designed to bolster India's startup landscape by supporting early-stage ventures working on transformative technologies. The partnership is targeted at startups building technologies in areas such as AI, blockchain, robotics, IoT and beyond. It will provide them with tools, networks and institutional backing to solve for India and scale globally. 'As India advances toward becoming a global innovation powerhouse, it is critical that our startups grow with both agility and integrity. Our partnership with Razorpay will empower founders, especially in Tier 2 and Tier 3 cities, to build with speed and confidence. Peer learning and shared networks remain powerful enablers,' said Panneerselvam Madanagopal, CEO, MeitY Startup Hub. 'As MeitY Startup Hub becomes custodian of deep-tech and driver of inclusive tech, partnerships like these will accelerate impact — ensuring startups scale with clarity, purpose and resilience.' MSH unites incubation centres, Centres of Excellence and strategic stakeholders to accelerate the growth of high-impact, tech-driven startups. As India crosses the milestone of over 159,000 DPIIT-recognised startups and 1.6 million jobs created, MSH continues to drive this momentum, especially in Tier 2 and Tier 3 cities, by enabling startups to access mentorship, compliance support, and scale sustainably. 'Most transformative ideas begin in unlikely places — with a lone founder solving a real problem, fuelled by belief more than resources. But turning belief into a business takes the right infrastructure, wisdom and a community that has your back. If we want to build for the next billion, we must empower the next million builders,' said Arif Khan, chief innovation officer, Razorpay. 'This partnership with MeitY Startup Hub is about giving early-stage founders the tools, authentic mentorship and confidence to build boldly.' Under this partnership, all startups associated with MSH will gain access to Razorpay Rize, the company's flagship initiative dedicated to empowering early-stage startups. Through Rize, startup founders will benefit from a seamless company incorporation experience, with priority support for registering as a private limited company, limited liability partnership (LLP) or one-person company (OPC). They will also gain access to a suite of founder-first resources designed to help formalise and grow their ventures with ease and efficiency. This includes support for Y Combinator applications, expert-led pitch deck reviews, comprehensive founder toolkits and a dedicated content hub. Every quarter, a cohort of startups shortlisted by Rize will also gain access to the exclusive Razorpay Rize Community, featuring curated peer networks, mentorship from Razorpay experts and ecosystem leaders. Benefits include a verified founder directory and invitation-only masterclasses focused on navigating the early stages of building and scaling a startup. To further support operational readiness, startups will also receive exclusive credits across Razorpay's product suite, including its payment gateway, business banking platform and payroll management solution — providing financial infrastructure from day one. This partnership forms part of Razorpay's broader effort to support entrepreneurs across India, including in emerging cities. Beyond MeitY Startup Hub, Razorpay has partnered with state governments such as Rajasthan, Assam and Kerala to deliver region-specific programmes tailored to local startup needs.
Business Standard
20-05-2025
- Business
- Business Standard
IndusInd Bank signs MoU with Department for Promotion of Industry and Internal Trade
IndusInd Bank today announced that it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to nurture innovation and entrepreneurial growth in India. This strategic partnership brings together the strengths of DPIIT's Startup India initiative and IndusInd Bank's financial expertise to create opportunities for startups, innovators, and entrepreneurs nationwide. The collaboration offers start-ups, innovators and entrepreneur tailored banking solutions, including cash management, working capital, and credit facilities. A key feature is enhanced support under the Credit Guarantee Scheme for Startups (CGSS), allowing collateral-free loans with a raised guarantee cover of up to ₹20 crore for DPIIT-recognised start-ups. Additionally, the guarantee fees for debt funding in 27 Champion Sectors has been reduced to further ease access to credit. These measures help start-ups mobilise capital and invest in advanced technologies and manufacturing.
Business Upturn
20-05-2025
- Business
- Business Upturn
IndusInd Bank signs MoU with DPIIT to boost India's startup ecosystem
IndusInd Bank has entered into a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups and promote entrepreneurship in India. The agreement aligns with the objectives of the Government of India's Startup India initiative. Under this partnership, IndusInd Bank will offer a range of customized financial services to DPIIT-recognised startups, including: Advertisement Cash management services Working capital solutions Credit facilities tailored to startup needs A major feature of this collaboration is improved access to funding through the Credit Guarantee Scheme for Startups (CGSS). The scheme enables eligible startups to secure collateral-free loans with a raised guarantee cover of up to ₹20 crore. In addition, guarantee fees for debt funding have been reduced in 27 Champion Sectors, helping reduce the cost of capital and improve credit accessibility for businesses in key industries. The initiative aims to strengthen the financial ecosystem for startups, enabling easier access to credit and financial tools. This collaboration is expected to help early-stage ventures invest in advanced technologies and manufacturing processes. This MoU represents a focused approach to bridging the gap between policy support and financial infrastructure for startups in India.
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Business Standard
09-05-2025
- Business
- Business Standard
Startups get boost as govt raises credit guarantee cover to ₹20 crore
In a bid to improve access to capital for startups, the government on Friday expanded the Credit Guarantee Scheme for Startups (CGSS). The revised scheme doubles the maximum guarantee cover per borrower to ₹20 crore from ₹10 crore. The enhanced guarantee cover will boost credit availability for startups and drive innovation, the Department for Promotion of Industry and Internal Trade (DPIIT) said in a notification. In addition to expanding the overall cover, the extent of guarantee has also been increased. For loans up to ₹10 crore, the guarantee will now cover 85 per cent of the amount in default, while for loans above ₹10 crore, the coverage will be 75 per cent. According to the notification, these changes aim to address the financing needs of innovation-driven startups. 'As a result of the increased guarantee support and coverage, the number of financial institutions coming forward to provide credit support to startups shall increase, thereby increasing overall fund flow for startups,' it stated. The expanded scheme is also expected to reduce the perceived risk of lending to startups. 'Venture debt has become an important element of a startup's funding journey. Collateral-free debt is almost like a dream for startups and helps them meet early-stage funding needs without diluting very quickly. CGSS could benefit many startups if the eligibility and disbursement process is objective,' said Amarjeet Makhija, partner and leader – Startups, PwC India. The government launched the Startup India initiative along with an action plan on 16 January 2016. As part of the initiative, the CGSS was notified on 6 October 2022 to provide guarantees against credit instruments extended to startups by Scheduled Commercial Banks, All India Financial Institutions (AIFIs), Non-Banking Financial Companies (NBFCs), and Securities and Exchange Board of India (SEBI)-registered Alternative Investment Funds (AIFs). Amit Sachdev, co-founder and chief operating officer, M1xchange, said: 'It will also boost lender confidence by mitigating risks, encouraging financial institutions to actively support MSME financing through avenues such as supply chain financing, working capital loans, bill discounting, and digital trade platforms. These measures will not only enhance MSME competitiveness but also catalyse the 'Make in India' initiative, positioning India as a formidable player in the global manufacturing and supply chain landscape.' As of 9 May, there are 173,413 DPIIT-recognised startups in the country.
