DPIIT Signs Agreement With Tally To Coach New Manufacturing Startups
To support manufacturing startups, the Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with SaaS giant Tally Solutions and HDFC Bank by signing a memorandum of understanding (MoU). Tally will provide training, case studies, and expert-led sessions to assist the chosen new-age tech companies in streamlining operations, implementing scalable business practices, and addressing startup challenges in areas like financial management, compliance, marketing, and digitisation, according to a statement from DPIIT.
Along with networking possibilities with colleagues and mentors in the sector, the SaaS platform will also provide users with free one-year rental licenses of Tally Prime software. Speaking about the collaboration, DPIIT joint secretary Sanjiv Singh stated that it will provide entrepreneurs with in-depth knowledge and useful resources to help them deal with the intricacies of markets. Tally is committed to providing business owners with the information, resources, and technology they need to expand their enterprises. Tally Solutions' managing director, Tejas Goenka, remarked, "Tally is proud to partner with DPIIT to support entrepreneurs in their journey. Their efforts to support this ecosystem have been incredible."
Joining Hands With HDFC
Additionally, DPIIT signed a Memorandum of Understanding with HDFC Bank, which would provide "customised" banking and financial products for domestic startups as part of the new partnership. To further improve the start-up scene in India, HDFC is happy to partner with DPIIT. According to Sunali Rohra, head of startups and gig banking at HDFC Bank, DPIIT-supported start-ups will easily access the bank's tailored range of products designed to help speed their growth. The flurry of collaborations comes only a day after Kotak Mahindra Bank joined forces with incubators IIMA Ventures, NSRCEL, and T-Hub to launch the Kotak BizLabs accelerator program to support early-stage entrepreneurs.
The chosen entrepreneurs from industries like agritech, climate tech, fintech, edtech, healthcare, and sustainability will get mentorship, thematic workshops, and "guaranteed" seed investment from Kotak BizLabs as part of this initiative.
DPIIT’s Slew of Partnerships to Further Support Startup Ecosystem
However, in an effort to support the domestic startup scene, DPIIT has recently signed a number of collaborations. The department partnered with e-commerce giant Flipkart earlier this month to support and guide emerging businesses. Before that, DPIIT had collaborated with Moglix, a B2B e-commerce platform, to provide manufacturing firms with assistance. The government also partnered with HCLSoftware in October to advance its manufacturing incubation program.
Nitin Konde
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