India-based payments giant Paytm is collaborating with the Indian government in an initiative designed to boost the growth of fintech startups in the country.
Paytm has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT). Under the terms of the agreement, Paytm will provide mentorship, infrastructure support, market access and funding opportunities to startups.
Under the terms of the MoU, Paytm will extend mentorship, infrastructure support, market access, and funding opportunities to startups.
The partnership will also aim to give startups regulatory and compliance assistance through workshops featuring industry and government bodies as well as help on accessing funding through incubation programes and investor connections initiatives.
“This partnership with Paytm marks a crucial step in strengthening India’s startup ecosystem," said DPIIT joint secretary Shri Sanjiv. "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."