DPIIT Inks Pact With Tally To Mentor Manufacturing Startups

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding (MoU) with SaaS major Tally Solutions and HDFC Bank to mentor manufacturing startups. 

In a statement, DPIIT said that Tally will offer training, case studies and expert-led sessions to help the selected new-age tech companies streamline operations, adopt scalable business practices, and address challenges faced by startups in areas such as financial management, compliance, marketing and digitisation.

The SaaS platform will also offer one-year rental licenses of Tally Prime software for free to the participants as well as networking opportunities with industry mentors and peers.

Commenting on the partnership, DPIIT joint secretary Sanjiv Singh said that the partnership will empower startups with deep insight and practical tools to navigate the complexities of markets. 

“… At Tally, we focus on equipping entrepreneurs with the right tools, technology, and knowledge to help them grow their businesses. The effort that DPIIT has been making to support this ecosystem has been incredible, and we are proud to partner with them to support entrepreneurs in their journey,” said Tally Solutions’ managing director Tejas Goenka. 

The day also saw DPIIT inking an MoU with HDFC Bank. Under the collaboration, the bank will offer “customised” banking and financial products for homegrown startups. 

“We are pleased to collaborate with DPIIT to further boost the landscape of start-ups in India. Through this partnership, DPIIT-supported start-ups will seamlessly gain access to the Bank’s customised suite of products aimed to help accelerate their growth,” said head of startups and gig banking at HDFC Bank Sunali Rohra. 

The slew of partnerships came just a day after Kotak Mahindra Bank banded up with incubators IIMA Ventures, NSRCEL and  T-Hub to launch the Kotak  BizLabs accelerator programme to foster early-revenue stage startups. 

As part of this, Kotak BizLabs will offer thematic workshops, mentorship and “guaranteed” seed funding to the selected startups across sectors such as agritech, climate tech, fintech, edtech, healthcare, and sustainability. 

That said, DPIIT has been signing a slew of partnerships lately with an eye on fostering the homegrown startup ecosystem. Earlier this month, the department joined hands with ecommerce major Flipkart to back and mentor emerging startups. 

Prior to that, DPIIT also partnered with B2B ecommerce platform Moglix to offer support to manufacturing startups. In October, the department also tied up HCLSoftware to drive its manufacturing incubation initiative.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.