DPIIT joins hands with Stride Ventures to help startups

The Department for Promotion of Industry and Internal Trade (DPIIT) on Saturday said it has joined hands with venture debt firm Stride Ventures to support high growth potential startups in their funding requirements.

It said this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support with strategic mentorship and market access.

Highlighting the macroeconomic impact of this collaboration, Joint Secretary in DPIIT Sanjiv said Stride Ventures will curate dedicated programmes and collaborate on engagements like the Bharat Grand Challenge to promote entrepreneurship, nnovation, and investment.

Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, said "this partnership, coupled with our billion-dollar commitment to nurturing startups, reaffirms our resolve to strengthen India's startup ecosystem".

The department said Stride Ventures will give thrust "on identifying startups with high growth potential, offering funding, market access, and policy support".

Startups from tier-2 and tier-3 cities will receive targeted guidance, mentorship, and access to a global mentor network to support their scaling journey, it added.

"Additionally, the initiative will create awareness about diverse fundraising instruments, including venture debt, to enable startups cherish their growth aspirations," it said.