IT ministry joins hands with Paytm to support deep-tech startups

Ministry of Electronics and IT (MeitY) Startup Hub has signed a Memorandum of Understanding (MoU) with Paytm to support deep tech startups. The collaboration will help scale deep-tech startups by providing access to the platform, knowledge series, experts, resources, and the larger community of stakeholders.

The joint efforts of MeitY Startup Hub and Paytm aim to create a vibrant ecosystem for SaaS, and app-based startups built on the deep-tech platform technologies such as Artificial Intelligence, Machine Learning, Cloud computing, etc., through support in terms of mentoring, technological assistance, go-to-market strategies, they said in a press statement.

“Paytm’s partnership with MeitY Startup Hub will bring numerous benefits for the Indian startup ecosystem. It will aid India’s startups by providing them access to mentorship, networking and business opportunities. We believe the collaborative approach will prove truly beneficial for India’s startups,” Praveen Sharma, Paytm Senior Vice President said.

The programme will also provide mentorship and guidance through a Unicorn talk series that aims to inspire new entrepreneurs to build Unicorns out of India, providing subsidised payment gateway services with a view to handhold the startups in the course of their business journey.