Paytm Partners With DPIIT To Support Fintech Startups With Mentorship & Funding

One97 Communications Ltd, the parent company of Paytm, has signed an agreement with the government to support startups with mentorship, infrastructure, market access, and funding opportunities.

The agreement (MoU) was signed with the Department for Promotion of Industry and Internal Trade (DPIIT). According to the Commerce and Industry Ministry, this initiative aims to boost innovation and help manufacturing and fintech startups grow in India.

According to DPIIT, this partnership aims to help entrepreneurs grow their businesses and strengthen India's role in financial technology.  

The initiative provides key resources for developing advanced payment and financial solutions.  

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DPIIT and Paytm will offer mentorship, innovation support, regulatory guidance, infrastructure, and market access.  

The MoU was signed by Dr. Sumeet Kumar Jarangal, Director of DPIIT, and Vijay Shekhar Sharma, Founder & CEO of Paytm, in the presence of senior officials from both organizations.

Sanjiv, Joint Secretary, DPIIT, said, "This partnership with Paytm marks a crucial step in strengthening india's startup ecosystem. By leveraging Paytm's fintech expertise and infrastructure, we aim to support entrepreneurs in overcoming challenges, scaling their ventures and contributing to india's emergence as a global innovation hub."

Vijay Shekhar Sharma, Founder & CEO, Paytm, said, "Under Prime Minister Narendra Modi's leadership, this is the best time for startups to launch and scale. Paytm is committed to empowering entrepreneurs through mentorship, financial support, and access to cutting-edge technology. Through this collaboration, we will ensure that startups receive the necessary tools to succeed from inception to growth."

As part of its Paytm for Startups initiative, the company will launch special programs to help fintech hardware manufacturers, such as Soundbox and PoS/EDC device makers, scale efficiently.

These programs will offer:

• Mentorship for fintech hardware startups
• Access to funding through investors and incubators
• Regulatory guidance and industry workshops
• Progress tracking through regular reports

Additionally, through its CSR arm, Paytm Foundation, the company supports deep-tech startups in Climate Tech, Web3, Agritech and Mobility.

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