India-based e-commerce marketplace Flipkart has launched a startup accelerator with US-headquartered management consulting firm Zinnov, the Economic Times reported yesterday.
Flipkart Leap is targeting startups developing India-focused consumer products, innovative digital commerce technology, supply chain management and logistics systems, retail enhancement software and deep tech-equipped applications.
Participants will need a working prototype and early adoption metrics. They will be eligible to win a potential $25,000 equity-free grant through the scheme, with future funding a possibility.
The 16-week programme will be directed by Flipkart’s product and strategy team, which is headed by Naren Ravula. Covid-19 travel restrictions mean the initiative will take place virtually, and it will accept applications from across India until the end of next month.
Flipkart Group CEO Kalyan Krishnamurthy said in a statement cited by ET: “With innovations and disruptions in the field of technology coming about each day, we want to be at the forefront of driving scalability and helping these startups bring value to the industry as well as Indian consumers.
“Flipkart Leap is aimed at unlocking this potential and nurturing new ideas that bring innovation, curiosity and unconventionality to the local entrepreneurial ecosystem, while boosting the government’s ‘Start-Up India’ initiative.”
