Flipkart launches startup promotion programme; may invest from its fund
Flipkart announced the launch of ‘Flipkart Leap’: the
e-commerce giant’s first startup accelerator programme to help new and upcoming
firms.
The Walmart-owned firm said this would, in turn, contribute to India’s growing
entrepreneurial ecosystem and boosting ‘Start-Up India’.
Flipkart Leap will
identify business-to-consumer and business-to-business startups and help
them scale through an intensive 16-week virtual programme. Shortlisted firms
will win an equity-free grant of $25,000.
Flipkart’s
leadership from business, operations, product, and technology will mentor the
selected companies. It
would share best practices, in addition to master class sessions hosted by
industry experts.
“With
innovations and disruptions in the field of technology coming about each day,
we want to be at the forefront of driving scalability and helping these startups bring value
to the industry as well as Indian consumers,” said Kalyan Krishnamurthy, chief
executive officer, Flipkart Group. “Flipkart Leap is aimed at unlocking this
potential and nurturing new ideas that bring innovation, curiosity, and
unconventionality to the local entrepreneurial ecosystem while boosting the
government’s ‘Start-Up India’ initiative."
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