Govt signs MoUs with over 50 firms to boost manufacturing startup ecosystem

New Delhi, Nov 9 (IANS) The Department for Promotion of Industry and Internal Trade (DPIIT) has signed agreements with more than 50 companies to strengthen India’s manufacturing and innovation ecosystem for startups. 

The initiative aims to encourage collaboration between large corporations and emerging manufacturing startups to foster innovation, develop new products, and create sustainable industrial growth.

According to an official, DPIIT has been proactively engaging with corporates, industry associations, unicorns, and sector veterans to highlight the importance of building manufacturing-focused incubators and the benefits of working closely with early-stage enterprises.

“This is part of a larger effort to promote the startup ecosystem and encourage the industry to support innovation in manufacturing through incubators and partnerships,” the official noted.

These collaborations are expected to provide critical support for manufacturing startups, which often struggle with access to infrastructure, capital, and scaling opportunities.

Manufacturing-focused incubators play a key role in this effort by offering pilot facilities, design centres, prototyping labs, and shared manufacturing spaces — all of which reduce the high capital investment burden faced by startups.

Such incubators also serve as an interface between startups and established industries, enabling access to market opportunities, risk capital, and advanced technologies. They can be established by corporations, academic institutions, or research organisations.

The DPIIT’s initiative is seen as a significant step toward creating a robust and collaborative manufacturing startup ecosystem, supporting India’s broader goal of becoming a global hub for innovation and industrial growth.

DPIIT last month signed an MoU with Thermo Fisher Scientific (TFS) to accelerate innovation in India’s biotechnology sector and nurture a strong pipeline of high-growth startups. The partnership aims to support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect.

As part of the MoU, TFS under Startup India, DPIIT’s initiative Bharat Startup Grand Challenge (BSGC) will launch the BioVerse Challenge -- a nationwide platform to identify and nurture India’s most promising biotech entrepreneurs, and the BioVerse Mentors Circle to provide skill development and technical training across leading bio-incubators.

--IANS

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