Invest India’s Startup India Initiative, the creator of the guiding vision for India’s entrepreneurship ecosystem, has partnered with Shiprocket, India’s latest unicorn and leading e-commerce enabler to build D2C 2.0 together, supporting the next generation of consumer products built by founders across the country. The program will help accelerate D2C and e-commerce startups that have achieved early success and on-the-ground impact with products made by Bharat, for Bharat.
D2C startups can apply for the Rocketfuel D2C Accelerator hosted exclusively on the Startup India portal. Shiprocket will offer 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 the opportunity to secure investments up to INR 50 Lakhs from Shiprocket and its fund partners.
During the 3-month accelerator program, Shiprocket will support D2C startups with premium privileges for logistics and e-commerce services, by providing shipping credits that can be used on its platform. Additionally, startups will gain access to D2C Verse, a pan-India D2C community of startups and key investors, and receive one-on-one mentorship from leading industry minds. Shortlisted startups will also benefit immensely from Startup India’s pan-India guidance and reach.
Speaking on the subject, Saahil Goel, co-founder and CEO of Shiprocket said, “Startup India is one of the biggest platforms for startups and entrepreneurs in India. With their support, Shiprocket can further propel the growth of early-stage D2C and e-commerce startups across all emerging markets in India. Our goal is to create a support system that not only meets the monetary needs of businesses, but encompasses all aspects of business. This collaboration with Startup India is a step towards achieving this goal.
Mr. Deepak Bagla, MD and CEO of Invest India said, “The excellence of Indian ingenuity has been at the forefront in developing impactful frugal solutions as India’s strength. As we move towards an Atmanirbhar Bharat, envisioned by the Honorable Prime Minister, it becomes imperative to ensure that India builds on these strengths and this challenge will help the founders of D2C to distribute their impactful products in many more and more homes across the country.
Applications for the program are open until September 15, 2022 and the results will be announced on September 28, 2022.