Flipkart unveils Startup promotion programme
The e-commerce major in India, Flipkart, has launched its own startup accelerator program in the country in order nurture and fund the startups in the country. The platform, named as ‘Flipkart Leap’, will open for opportunities for startups in the country.
Details of ‘Flipkart Leap’
This is a 16-week long program will prepare the startups to prepare something market-ready and innovative to some problem statement. The venture will provide an equity-free grant of $25000. Throughout the program, the leadership of the company from across the domains such as Business, Operations, Product and Technology will guide the startups in order to share the best practices, in addition to master class sessions hosted by industry experts.
Objective of ‘Flipkart Leap’
The startup is aimed at unlocking this potential and nurturing new ideas that bring innovation, curiosity and unconventionality to the local entrepreneurial ecosystem, while boosting the ‘Start-Up India Initiative’ of the government. The main objective of the company is to promote scalable startups in the country.
Different Themes under ‘Flipkart Leap’
This has identified five themes to shortlist relevant high-potential startups – Design and Make for India, Innovation in Digital Commerce, Technologies to Empower the Retail Ecosystem, Supply Chain Management and Logistics and Enabling Relevant Deep Tech Applications. These themes have been identified to explore the most innovative solutions in the Technology and Consumer Internet Space, especially built for Indian consumers.
What is Startup Accelerator Program?
This is aimed at creating a space for the startups in the country to bloom and be nurtured. They are guided by the experts from various successful startups. The program aims to speed up the ecosystem of startups of the country.
What is Start-Up India Scheme?
It is an initiative of the government, the primary objective of which is the promotion of startups, employment generation and wealth creation. It was launched in 2016. There are three pillars under this scheme:
- Simplification and Handholding
- Funding Support and Incentives
- Industry-Academia Partnership and Incubation
The objective is to create a vibrant Startup ecosystem in the country like the developed countries.