India-based payments giant Paytm is teaming up with the Indian government in an initiative aimed at fostering the growth of fintech startups in the country.
Paytm has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT). This agreement outlines that Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups.
The collaboration also seeks to offer startups regulatory and compliance assistance through workshops featuring industry experts and government representatives, along with support for accessing funding via incubation programs and investor connections.
“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.”