Bengaluru-based Flipkart on Monday launched an accelerator programme for startups in the technology and consumer-internet space. The programme, called Flipkart Leap, will help upcoming startups navigate challenges and contribute to the country's growing entrepreneurial ecosystem, the e-commerce major said in a statement. Under Flipkart Leap, the e-tailer said it will provide a 16-week virtual mentorship programme along with an equity-free grant of $25,000 to shortlisted B2C and B2B startups.
After the completion of the programme, the final participants "will pitch their successful model to investors, corporates and other ecosystem players on the demo-day and may also be considered for funding by Flipkart", it added.
The company said Flipkart Leap, its first startup programme, has identified five themes to shortlist relevant high-potential startups:
- Design & Make for India
- Innovation in Digital Commerce
- Technologies to Empower the Retail Ecosystem
- Supply Chain Management & Logistics
- Enabling Relevant Deep Tech applications
“The journey for Flipkart, from its launch to becoming one of the most-loved homegrown brands, has been a true harbinger of the potential of the startup ecosystem in India. With innovations and disruptions in the field of technology coming about each day, we want to be at the forefront of driving scalability and helping these startups bring value to the industry as well as Indian consumers," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group.
"Flipkart Leap is aimed at unlocking this potential and nurturing new ideas that bring innovation, curiosity and unconventionality to the local entrepreneurial ecosystem, while boosting the government's ‘Start-Up India' initiative,” he said.
The company said Flipkart Leap has been designed and will be managed by its product strategy and deployment team, led by Naren Ravula.