The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with boAt, one of India’s leading audio and wearables brands. The collaboration aims to empower DPIIT-recognized startups, particularly those in the Direct-to-Consumer (D2C) and manufacturing sectors, with resources, mentorship, and global market insights.
Strategic Focus of the Partnership
The MoU outlines a framework for curating specialized programs and initiatives tailored to address the unique challenges faced by startups. These initiatives will focus on:
- Mentorship and Guidance: Providing structured mentoring programs for entrepreneurs and innovators.
- Resource and Development Support: Offering assistance for key milestones such as prototype development and scaling operations.
- Global Expansion: Facilitating connections and strategic insights to help startups explore international markets.
Enabling World-Class Entrepreneurship
Speaking about the collaboration, Shri Sanjiv, Joint Secretary of Startup India, highlighted the partnership’s potential to significantly enhance India’s startup ecosystem.
“This endeavour will be instrumental in equipping our startups with the best expertise and enormous resources to raise the bar of efficiency while contributing to India’s vision of becoming a hub for world-class manufacturing and entrepreneurship. By connecting startups with industry leaders like boAt, we aim to foster innovation, enhance product development, and support the establishment of globally competitive brands.”
Industry-Driven Growth
Aman Gupta, Co-founder of boAt, emphasized the importance of such public-private collaborations in achieving India’s manufacturing and innovation goals.
“This partnership with DPIIT reflects our commitment to the ‘Make in India’ initiative. By joining hands with the government, we are poised to nurture a thriving ecosystem for product startups, innovators, and entrepreneurs.”
Also read: AI for All: Jio and Nvidia Lead India’s AI Revolution
A Step Towards ‘Make in India’ Goals
This alliance aims to streamline access to industry expertise and accelerate innovation. It also focuses on enhancing the scalability of startup operations across various sectors.
DPIIT brings its robust policy framework, while boAt contributes valuable market experience. Together, they aim to position Indian startups as strong competitors on the global stage.
As India moves closer to becoming a global hub for manufacturing and entrepreneurship, such collaborations play a crucial role. They act as key drivers of growth and innovation, fueling the startup ecosystem.
