The Department for Promotion of Industry and Internal Trade (DPIIT) has inked a memorandum of understanding (MoU) with early-stage VC firm Rukam Capital and non-profit Bootstrap Incubation & Advisory Foundation. This collaboration will focus on developing dedicated programmes to support the growth of product startups, innovators, and entrepreneurs across the country.
According to DPIIT, startups will gain access to essential resources, including infrastructure, mentoring, and funding opportunities. The partnership will also aid in prototype development and facilitate international expansion.
“Together, we aim to provide entrepreneurs with the tools, mentorship, and opportunities they need to innovate and scale their ideas, contributing to the country’s economic growth and global competitiveness,” said Rukam Capital founder and managing director Archana Jahagirdar.
Founded by Jahagirdar in 2019, Rukam Capital is an early-stage, consumer-focused VC fund that has backed more than 18 startups, including Sleepy Owl, Go Desi, BECO, Pilgrim, Curefoods, and Yoho. Jahagirdar also serves as director of Bootstrap Incubation & Advisory Foundation, a community-driven organization dedicated to bridging the gap between stakeholders in the Indian startup ecosystem.
This development comes as DPIIT continues to forge partnerships to further bolster the Indian startup landscape. Recently, the department partnered with professional networking platform Apna to boost startup employment and inked an MoU with Shahi Exports’ Bhaane group to incubate startups in the manufacturing space. DPIIT has also announced a strategic partnership with ITC Limited to accelerate startup growth and technological advancements, following a collaboration with the Startup Policy Forum (SPF) last year to drive innovation and enhance manufacturing capabilities in India.
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