The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, signs an agreement with One 97 Communications, the parent company of Paytm, to empower the growth of fintech startups in India. The collaboration will make it easier for emerging Indian fintech startups to gain much-needed support and mentorship from big players like Paytm. 

As part of this collaboration, Paytm will offer startups mentorship, infrastructure support, market access, and funding opportunities to drive growth and innovation. This initiative is designed to empower entrepreneurs with vital resources, enabling them to develop groundbreaking payment and financial technology solutions.

DPIIT X Paytm: Scope of Work 

DPIIT states that this partnership is designed to empower fintech hardware startups with mentorship and innovation support, helping them develop and scale payment and financial technology solutions. It also aims to assist startups with regulatory and compliance matters through workshops and expert guidance in collaboration with industry and government bodies. 

Moreover, the partnership provides infrastructure and market access support, allowing startups to test, validate, and refine their products while leveraging Paytm’s vast merchant network.

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DPIIT X Paytm: A Boost to Fintech Hardware Manufacturers

As part of its Paytm for Startups initiative, Paytm will roll out specialized programs to help fintech hardware manufacturers—such as Soundbox and PoS/EDC device makers—scale efficiently. These programs will offer mentorship, investor connections for funding access, incubation support, regulatory guidance through industry-focused workshops, and periodic impact assessments to track progress.

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Best Time for Startups

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.”