The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a partnership with audio products and smartwatch manufacturer boAt to provide support for DPIIT-recognised startups in the direct-to-consumer (D2C) and manufacturing sectors.
The alliance seeks to equip startups with mentorship, resources, and guidance to facilitate prototype development and enable global expansion.
Joint Secretary of Startup India, Sanjiv, remarked, “This endeavour will be instrumental in equipping our startups with the best expertise and enormous resources to raise the bar of efficiency while contributing to India’s vision of becoming a hub for world-class manufacturing and entrepreneurship”
He emphasized the importance of linking startups with industry giants like boAt to drive innovation, improve product development, and build globally competitive brands.
About boAt
Founded in 2015 by Sameer Mehta and Aman Gupta, boAt is a leading brand in the audio and wearable technology sector, offering products such as headphones, smartwatches, and speakers.
While the company reported a net loss of INR 79.7 crore in FY24 on an operating revenue of INR 3,117.7 crore, it remains an influential player in the startup ecosystem through its strategic initiatives.
DPIIT’s Broader Ecosystem Efforts
This collaboration with boAt is part of DPIIT’s broader strategy to strengthen India’s startup ecosystem.
Recently, DPIIT partnered with Flipkart to mentor budding startups and signed an MoU with Amazon to invest $120 million (approximately INR 1,018 crore) in Indian startups through the Smbhav Venture Fund.
Further collaborations include:
- Moglix: Offering resources for manufacturing startups.
- HCLSoftware: Enhancing the manufacturing incubation program.
- Tally Solutions: Providing one-year free licenses for Tally Prime software and networking opportunities.
- HDFC Bank: Delivering mentorship to manufacturing-focused startups.
Achievements Under Startup India Initiative
Launched in January 2016, the Startup India initiative aims to nurture innovation and encourage investment in the startup ecosystem.
As of December 25, 2024, DPIIT has recognised 1.57 lakh startups under this initiative, which have collectively generated over 16 lakh jobs.
Recognised startups gain access to numerous incentives and support schemes, including the Fund of Funds for Startups (FFS).
