In a bid to promote nationwide innovation, India’s largest mobile payment and commerce platform Paytm has partnered with over 50 startup accelerators, co-working spaces and incubators across India. This is in line with Prime Minister Narendra Modi’s Startup India initiative, the company said in a press release.
It aims to support over 1,000 startups in the coming year.
Speaking at the announcement, Founder & CEO – Paytm, Vijay Shekhar Sharma said, “Innovation often faces hurdles at an early stage due to the lack of quality technical and support systems. This initiative will enable the industry leaders of tomorrow to avail the benefits of our services and achieve their true potential.”
The startups will be able to avail the services of the Paytm Wallet and payment gateway for the first six months at zero initial setup fee, zero transaction fee and zero annual maintenance charges under this initiative.The company will also offer developer support for integration of APIs and SDKs so that young startups can focus on innovation without worrying about integration and other technicalities. This will enable Indians to fuel new ideas and business models and solve problems faster with easily scalable payment solutions.
The company has collaborated with over 50 startup ecosystem builders including Microsoft Accelerator, NASSCOM, Amity Innovation Incubator, Tlabs, 91Springboard, Zone Startups, Innov8 and Jarvis Accelerators.
“India is buzzing with incredible entrepreneurial vibrancy thanks to our young start-up community and our spirit of innovation. This wave of dynamism and disruption must continue if India is to emerge as one of the biggest innovation hubs in the world. Critical private company initiatives such as this will help our start-up ecosystem accelerate, and give a boost to Start-up India, as government facilitates a smooth passage for our young entrepreneurs,” CEO of NITI Aayog, Amitabh Kant said in a press release.