The Department for Promotion of Industry and Internal Trade (DPIIT) participated in a virtual interaction under the FICCI Mercedes-Benz Bharat Innovation & Business Ideas Challenge Programme, reaffirming its commitment to strengthening India's startup and innovation ecosystem. The programme was launched to identify and support high-potential Indian startups developing innovative and scalable solutions across key sectors including manufacturing, sustainability, education, decarbonization, and automotive/EVs.
Additional Secretary of DPIIT, Shri Ateesh Kumar Singh, congratulated FICCI and Mercedes-Benz India on the successful implementation of the programme, noting that it reflects the growing strength of India's innovation ecosystem and the potential of the country's young entrepreneurs. He emphasized that such collaborative efforts are essential for driving innovation-led growth and strengthening India's position as a global innovation leader.
Following a nationwide call for applications and a rigorous multi-stage evaluation by industry experts and ecosystem stakeholders, 32 startups were shortlisted from across India and invited to present their innovations. Based on innovation, scalability, business potential, and impact, seven startups were selected to receive funding support of INR 30 lakh each (approximately $36,000).
The selected startups will receive structured post-funding mentoring and handholding support to accelerate their growth and enhance investment readiness. The initiative provides targeted support across critical business domains including regulatory and legal compliance, taxation and fund utilization, fundraising strategy, valuation fundamentals, term sheet negotiations, data privacy, cybersecurity, and intellectual property protection.
The programme will feature dedicated Demo Days where startups can showcase their innovations, business models, and growth strategies before industry leaders, investors, mentors, and ecosystem stakeholders. Additionally, startups will benefit from the "Sounding Board Programme," a strategic mentorship initiative designed to provide industry insights, expert guidance, and leadership perspectives to help refine business models and accelerate market readiness.