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 ecosystem. This program was launched to identify and support high-potential Indian startups developing innovative 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 program's implementation, noting that it reflects the growing strength of India's innovation ecosystem and the potential of 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.
The program selected seven startups through a rigorous multi-stage evaluation process that began with a nationwide call for applications. From the initial pool, 32 startups were shortlisted and invited to present their innovations before a jury and leadership team. The seven最终 selected startups were chosen based on innovation, scalability, business potential, and impact criteria.
Each selected startup will receive funding support of INR 30 lakh along with a structured post-funding mentoring and handholding framework designed to accelerate their growth and enhance investment readiness. The mentoring program provides targeted support across critical business domains including regulatory and legal compliance, taxation and fund utilisation, fundraising strategy, valuation fundamentals, term sheet negotiations, data privacy, cybersecurity, and intellectual property protection.
The initiative also includes dedicated Demo Days where startups can showcase their innovations, business models, and growth strategies before industry leaders, investors, mentors, and ecosystem stakeholders. Additionally, the "Sounding Board Programme" offers strategic mentorship to provide industry insights, expert guidance, and leadership perspectives to help refine business models and sharpen growth strategies.