Paytm Signed MoU With DPIIT to Bolster Fintech Startups in India

On February 26, 2025, Paytm (One97 Communications Limited) signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India to encourage innovation and boost the growth of manufacturing and fintech startups in India.

Scope of Partnership

As part of the Paytm for Startups program, Paytm will introduce specific initiatives to assist fintech hardware manufacturers, such as makers of Soundbox and PoS/EDC devices, in achieving efficient growth. These initiatives will include mentorship, funding opportunities via investor connections and incubation programs, regulatory support through industry-focused workshops, and ongoing impact tracking. Additionally, Paytm Foundation, through its CSR initiatives, is supporting deep-tech startups in areas like Climate Tech, Web3, Agritech, and Mobility.

Through this collaboration, Paytm will offer startups mentorship, infrastructure support, market access, and funding opportunities, aiding them in scaling and innovating. The initiative is designed to provide entrepreneurs with the necessary resources to develop advanced payment and financial technology solutions.

According to DPIIT, this partnership aims to guide fintech hardware startups with mentorship and innovation, helping them build and scale payment and financial tech solutions. It also offers regulatory and compliance support by hosting workshops and providing guidance in collaboration with industry and government entities. Furthermore, the partnership will provide infrastructure and market access, allowing startups to test, validate, and enhance their products using Paytm’s broad merchant network.

Management Take on This Collaboration

Mr. Sanjiv, Joint Secretary, DPIIT, emphasized the significance of this collaboration, stating, “This partnership with Paytm marks a crucial step in strengthening India’s startup ecosystem. 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.”

Vijay Shekhar Sharma, Founder & CEO of Paytm, remarked, “Under Prime Minister Narendra Modi’s leadership, this is the best time for startups to launch and scale. Paytm is committed to empowering entrepreneurs through mentorship, financial support, and access to cutting-edge technology. Through this collaboration, we will ensure that startups receive the necessary tools to succeed from inception to growth.”

Conclusion

Through this collaboration, DPIIT and Paytm reinforce their shared commitment to making India a global hub for innovation, promoting technological progress, and driving economic development.

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