The initiative will help accelerate D2C and eCommerce startups who have delivered early success and on-ground impact with products built by Bharat, for Bharat
The logistics startup, Shiprocket has tied up with the Startup India Initiative at Invest India, to build D2C 2.0, the company notified in a statement on Tuesday. The initiative will help accelerate D2C and eCommerce startups who have delivered early success and on-ground impact with products built by Bharat, for Bharat.
Notably, D2C startups can apply for the Rocketfuel D2C Accelerator hosted on the Startup India portal. Shiprocket will be offering Rs 1 Lakh to each of the shortlisted startups, in addition to the Rs 50,000 provided in shipping credits on an immediate basis, and provide an opportunity to get investments upto Rs 50 Lakhs from Shiprocket and its fund partners.
Speaking on the development, Saahil Goel, Co-Founder and CEO of Shiprocket said “Startup India is one of the largest platforms for startups and entrepreneurs in India. With their support, Shiprocket can further propel the growth of early-stage D2C and eCommerce startups across the length and breadth of all emerging markets in India. Our aim is to create a support system that caters to not just the monetary requirements of companies but one that encompasses all aspects of the business. This collaboration with Startup India is one step towards achieving that goal.”
Meanwhile, Deepak Bagla, MD & CEO, Invest India, said: “The excellence of Indian ingenuity has been at the forefront who are developing impactful frugal solutions as India’s strength. As we move towards an Atmanirbhar Bharat, envisioned by the Hon’ble Prime Minister, it becomes imperative to ensure that India builds on these strengths and this challenge will help D2C founders to distribute their impactful products in more and more households across the country.”