MeitY Startup Hub Partners Razorpay To Boost Deeptech Startups

MeitY Startup Hub has partnered with fintech unicorn Razorpay to foster deeptech and emerging tech startups across the country. 

The partnership aims to empower startups with access to Razorpay’s platform for early-stage startups, Razorpay Rize.

Besides, these startups will also get Y Combinator application support, mentorship from Razorpay experts and access to its payment and banking services.

Notably, MeitY Startup Hub acts as a central network linking incubation centres and stakeholders to help tech startups grow, particularly in Tier II and III cities. 

The tie up focusses on startups operating in AI, blockchain, robotics and IoT, giving them tools and networks to build solutions for India and scale globally.

Panneerselvam Madanagopal, CEO of MeitY Startup Hub, said the partnership will help startups grow with speed and confidence by providing vital support in mentorship, capital access, and digital infrastructure.

Last month, MeitY Startup Hub partnered with Startup Policy Forum (SPF) to foster technological innovation and promote startups operating in the deeptech sector. It’ll focus on startups across sectors, including AI, deeptech and other emerging technologies.

Under this partnership, SPF will assist MSH in initiatives like conducting joint research, policy analysis and organising stakeholder engagement, among others.

This comes at a time when Union minister Piyush Goyal has been giving several bittersweet statements regarding the Indian startup ecosystem. 

Earlier last month, the minister became part of a controversy after giving a “reality check” to Indian startups at the Startup Mahakumbh. During his inaugural speech at the event, Goyal presented a slide, titled “India Vs China: The Startup Reality Check”, which compared tech innovations in both the countries. 

He also pointed out that Indian startups are focusing on food deliveries while the neighbouring country has fortified its tech solutions in the deeptech sectors. 

Around the same time, Goyal also announced a new dedicated helpline for startups. This helpline will facilitate startups to report “corrupt” government officials and register complaints of bribes.

As per DPIIT data till January 31, 2025, India is home to more than 1.61 Lakh startups. 

Meanwhile, the government is also rolling out several initiatives to bolster the growth of the deeptech sector in the country.

For instance, during her budget speech for the financial year 2025-26 (FY26), finance minister Nirmala Sitharaman said that the government will explore setting up a fund of funds (FoF) for the deeptech sector to support the next generation of startups.

Besides, the Budget also highlighted allocation of INR 20,000 Cr to boost research and innovation.