The Business Bytes
THEBUSINESSBYTES BUREAU
NEW DELHI, JANUARY 4, 2025
In a transformative move to accelerate the growth of Indian startups and amplify their global presence, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has joined hands with Stride Ventures, a premier venture debt firm. This strategic collaboration aims to blend financial empowerment with mentorship and market access, unlocking new opportunities for innovation and entrepreneurship.
Speaking on the macroeconomic significance of this initiative, Sanjiv, Joint Secretary of Startup India, emphasized that the partnership reinforces India’s commitment to fostering innovation and entrepreneurship. “This endeavor aligns seamlessly with the Government of India’s Make in India and Make for the World strategies. It will catalyze growth in critical sectors such as manufacturing, consumer goods, B2B, and cleantech, contributing significantly to India’s economic growth,” he stated.
Stride Ventures will play a pivotal role in curating specialized programs and collaborating on initiatives like the Bharat Grand Challenge to encourage entrepreneurship, innovation, and investment. These efforts aim to position India as a global leader in innovation-driven industries.
Reflecting on the partnership’s impact, Ishpreet Singh Gandhi, Founder and Managing Partner of Stride Ventures, remarked, “Our collaboration with DPIIT marks a significant step in our mission to empower Indian entrepreneurs. With our billion-dollar commitment to nurturing startups, we aim to create solutions that resonate globally while reinforcing India’s startup ecosystem. Together, we are poised to deliver transformative results and strengthen India’s position on the global stage.”
Stride Ventures plans to focus on identifying startups with high-growth potential, providing them with financial backing, market access, and policy support. The partnership will also spotlight startups from tier-2 and tier-3 cities, equipping them with targeted mentorship and access to a global network of experts to accelerate their scaling journey. Additionally, efforts will be made to educate startups about diverse fundraising instruments, including venture debt, enabling them to achieve their aspirations.
This partnership represents a forward-looking approach to integrating resources, fostering innovation, and establishing India as a hub for impactful, globally competitive startups.
