DPIIT Joins Forces with Stride Ventures to Strengthen India’s Startup Ecosystem and Drive Global Expansion
New Delhi [India], January 4: The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a strategic partnership with Stride Ventures, a prominent venture debt firm, to accelerate the growth of Indian startups and amplify their global presence. This collaboration, announced in a release, aims to create an economic transformation and solidify India’s role as a hub of innovation and manufacturing.
Through this alliance, Stride Ventures will target startups with significant growth potential, providing them with essential funding, access to markets, and policy support. The initiative is designed to support Indian startups looking to expand globally and assist global startups looking to enter the Indian market. Additionally, the program will offer startups from tier-2 and tier-3 cities specialized mentorship, guidance, and access to a global network of mentors to help them scale their businesses.
The collaboration also seeks to raise awareness of various fundraising options, including venture debt, enabling startups to achieve their growth ambitions. By integrating financial support with strategic mentorship and market access, this partnership is set to create abundant opportunities for startups across the nation.
Highlighting the macroeconomic impact of the collaboration, Sanjiv, Joint Secretary of Startup India, emphasized that these efforts would further India’s economic agenda to foster innovation and entrepreneurship, ultimately contributing to the country’s broader economic growth. The partnership is also in alignment with the Government of India’s Make in India and Make for the World strategies, focusing on sectors like manufacturing, consumer goods, B2B, and cleantech.
As part of this initiative, Stride Ventures will launch dedicated programs and engage in activities like the Bharat Grand Challenge, aiming to promote entrepreneurship, innovation, and investment across India.
Dr. Sumeet Kumar Jarangal, Director of Startup India, shared his vision for the partnership, stating that by equipping startups with the necessary tools to scale globally, this collaboration will not only drive economic transformation but also position India as a leader in both innovation and manufacturing. He reiterated DPIIT’s commitment to bridging the gap between entrepreneurs’ aspirations and their execution, especially for startups located in tier-2 and tier-3 cities.
Ishpreet Singh Gandhi, Founder & Managing Partner of Stride Ventures, highlighted the significance of this collaboration in fueling the company’s mission to empower entrepreneurs and promote impactful, globally resonant solutions under the ‘Make in India’ banner. He also reaffirmed Stride Ventures’ commitment to nurturing India’s startup ecosystem with its billion-dollar investment pledge.
This partnership marks an important step towards further solidifying India’s position as a global leader in innovation, manufacturing, and entrepreneurship.
