Walmart-owned Flipkart has launches startup accelerator programme “Flipkart Leap” for idea-stage startups with 16-week mentorship, INR18.75 lakh grant.
The Flipkart Leap, the accelerator programme for idea-stage startups, will have a deeper engagement with startups to help them build market-ready solutions.
The Flipkart Leap start up accelerator programme is for idea-stage startups have innovative solutions connected to the consumer internet space.
India’s leading ecommerce marketplace, Flipkart has launched Flipkart Leap, its idea-stage startup accelerator programme for the first time.
The company said the shortlisted startups will be provided with a INR18.75 lakh (approx.) equity free grant and will undergo a 16-week intensive mentorship.
According to statement, the Flipkart Leap, startup accelerator programme of the Walmart-owned Flipkart is expected to support the Startup India initiative.
The startup accelerator programme aims to help new and upcoming startups navigate, scale, grow, and challenges, which in turn will contribute to the India’s entrepreneurial ecosystem.
The homegrown ecommerce company’s idea-stage startup accelerator programme has identified five themes to shortlist innovative and relevant high-potential Indian startups.
These include innovation in digital commerce, design and Make for India, ecosystem, supply chain management & logistics, technologies to empower the retail and enabling relevant deep tech applications.
The idea-stage startup accelerator programme will identify high-potential and innovative B2C and B2B startups to promote the vibrant startup ecosystem. The Flipkart Leap is also support ‘Start-up India’.
Throughout the accelerator program, Flipkart’s leadership from Operations, Business, Product and Technology will mentor the selected innovative startups, in addition to master class sessions hosted by industry experts.
“Flipkart Leap is aimed at unlocking nurturing and potential new ideas that bring curiosity, innovation, and unconventionality to the Indian entrepreneurial ecosystem,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, on the launch.
Krishnamurthy also said that we want to be helping Indian startups bring value to the industry as well as Indian consumers and boosting the government’s ‘Start-Up India’ initiative. It has been a true harbinger of the potential of the startup ecosystem in India.
Jey Venugopal, Flipkart’s Chief Product and Technology Officer said that we wanted to utilize our network to build a startup accelerator program that helps Indian startups in these early stages to evolve and become successful brands in future.
After completing the Flipkart Leap startup accelerator programme, the final participants will pitch their successful model to ecosystem players, corporates, and investors.
The final participants may also be considering for funding by Flipkart. The homegrown eCommerce company announced the launch of a venture fund to back early-stage technology startups in the payments, fintech, ecommerce, and other complementary spaces.
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Startups that apply should have a working prototype with early adoption metrics and should be based in India, Kalyan Krishnamurthy said.