Business News | DPIIT Signs MoU with BoAt to Empower Startups
Get latest articles and stories on Business at LatestLY. The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with boAt, an Indian company in the audio and wearables market.
New Delhi [India], December 28 (ANI): The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with boAt, an Indian company in the audio and wearables market.
This strategic collaboration aims to foster innovation and provide tailored support to DPIIT-recognized startups, particularly those in the direct-to-consumer (D2C) and manufacturing domains.
According to the Ministry of Commerce and Industry, the partnership is designed to launch dedicated programs and initiatives to mentor startups, innovators, and entrepreneurs. It will provide critical resources, guidance, and support for key milestones such as prototype development.
Additionally, the collaboration aims to facilitate connections and offer insights for international expansion wherever feasible, helping startups scale globally.
Speaking on the occasion, Sanjiv, Joint Secretary of Startup India, highlighted the potential of the alliance to transform the startup landscape.
"This endeavour will be instrumental in equipping our startups with the best expertise and enormous resources to raise the bar of efficiency while contributing to India's vision of becoming a hub for world-class manufacturing and entrepreneurship. By connecting startups with industry tycoons like boAt, we aim to foster innovation, enhance product development, and support the establishment of globally competitive brands," he said.
Aman Gupta, Co-founder of boAt, lauded the partnership and its alignment with national priorities. "This partnership with DPIIT reflects our commitment to the 'Make in India' initiative. By joining hands with the government, we are poised to nurture a thriving ecosystem for product startups, innovators, and entrepreneurs," he stated. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)