Mercedes joins hands with DPIIT to support startups

New Delhi: Mercedes-Benz India on Thursday said it will provide startups with mentorship, funding access, and opportunities to scale their innovations to international markets, as per a pact inked with DPIIT.

The automaker said it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to foster innovation, sustainability, societal development and entrepreneurship within the country's startup ecosystem.

The initiative will drive advancements in promoting road safety, environment sustainability and societal development aligning with India's broader development goals and fostering long-term societal impact, Mercedes-Benz India said in a statement.

This collaboration is aimed at accelerating the development of product startups, innovators, and entrepreneurs, it added.

As per the MoU, Mercedes-Benz India will work closely with DPIIT to provide startups with infrastructure, mentorship, funding access and market linkages.

By leveraging the Startup India initiative, DPIIT will enhance the reach and visibility of this initiative, ensuring greater participation and impact, it added.