Startup India initiative at Invest India, has partnered with Shiprocket to build D2C 2.0 together, backing the next generation of consumer products built by entrepreneurs from across the country. The program will help accelerate D2C and e-commerce startups who have delivered early success and on-ground impact with products built by Bharat, for Bharat.
D2C startups can apply for the Rocket fuel D2C Accelerator hosted exclusively on the Startup India portal. Shiprocket will be offering INR 1 Lakh in cash grants to each of the shortlisted startups, in addition to the INR 50,000 provided in shipping credits on an immediate basis and provide an opportunity to get investments upto INR 50 Lakhs from Shiprocket and its fund partners.
During the 3-month accelerator program, Shiprocket will support the D2C startups with top-tier privileges for logistics and e-commerce services, providing shipping credits that can be used on its platform. Additionally, startups will gain access to D2C Verse, a pan-India D2C community of key startups and investors and receive one-on-one mentorship from the leading minds of the industry. The shortlisted startups will also benefit immensely from Startup India’s guidance and pan-India reach.
Speaking on this, Saahil Goel, Co-Founder and CEO of Shiprocket said, “With Startup India support, Shiprocket can further propel the growth of early-stage D2C and e-commerce 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.”
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, 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.”
Applications for the program are open till 15th September 2022, and the results will be declared on 28th September 2022.