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 programme 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 programme'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.
Following a nationwide call for applications and rigorous multi-stage evaluation by industry experts, 32 startups were shortlisted from across India, with seven ultimately selected based on innovation, scalability, business potential, and impact. Each of the seven selected startups will receive funding support of ₹30 lakh along with a structured post-funding mentoring and handholding framework designed to accelerate their growth and enhance investment readiness.
The mentoring programme 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 features dedicated Demo Days where startups can showcase their innovations, business models, and growth strategies before industry leaders, investors, and ecosystem stakeholders to validate market readiness and unlock potential partnerships.
Additionally, the selected 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 sharpen growth strategies. This comprehensive support framework aims to help startups build scalable, resilient, and globally competitive ventures, contributing to India's vision of becoming a global hub for innovation and entrepreneurship.