DPIIT Collaborates with Stride Ventures to Empower Startups

The Department for Promotion of Industry and Internal Trade (DPIIT) announced on Saturday a strategic partnership with Stride Ventures, a venture debt firm, aimed at assisting high-potential startups in meeting their funding needs. This collaboration is expected to open up significant opportunities for startups by combining financial backing with essential mentorship and market access.

Collaboration Highlights

Joint Secretary in DPIIT, Sanjiv, emphasised the broader economic implications of this partnership. He noted that Stride Ventures will develop tailored programmes and engage in initiatives such as the Bharat Grand Challenge to foster entrepreneurship, innovation, and investment.

Ishpreet Singh Gandhi, the Founder and Managing Partner of Stride Ventures, stated, “This partnership, combined with our billion-dollar commitment to nurturing startups, reinforces our determination to enhance India’s startup ecosystem.”

Support for Startups

The department further explained that Stride Ventures would focus on:

• Identifying startups with significant growth potential.
• Providing funding, market access, and policy support.

Particular attention will be given to startups in Tier II and Tier III cities, ensuring they receive:

• Targeted guidance and mentorship.
• Access to a global network of mentors to aid in their scaling journey.

Moreover, the initiative aims to raise awareness about various fundraising mechanisms, including venture debt, empowering startups to fulfil their growth ambitions.