Flipkart launches accelerator program for idea-stage startups, Technology News, ETtech

Walmart-owned Flipkart said it has launched an accelerator program for idea-stage startups in the consumer internet technology space to help them build market-ready solutions.

Shortlisted startups will undergo a 16-week mentorship training and get an equity-free grant of $25,000, the ecommerce major said in a statement.

“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,” Kalyan Krishnamurthy, Chief Executive Officer at Flipkart Group, said.

Throughout the program, Flipkart’s leadership from business, operations, product, and technology will mentor the selected entrepreneurs, and share best practices, in addition to sessions hosted by industry experts, it said.

Some themes identified by the etailer for this program include design and make for India, innovation in digital commerce, technologies to empower the retail ecosystem, supply chain management, and logistics, and deep tech applications.

Startups applying for the Flipkart Leap program should be based out of India and should have a working prototype with early adoption metrics, the company said.

After the completion of the program, the final participants of Flipkart Leap will pitch their successful model to investors, corporates, and other ecosystem players on the demo-day and may also be considered for funding by Flipkart.

Last year, the company announced the launch of a venture fund to back early-stage technology startups in the ecommerce, fintech, payments, and other complementary spaces.

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