The Department for Promotion of Industry and Internal Trade (DPIIT), functioning under the Ministry of Commerce and Industry, has signed five strategic Memoranda of Understanding (MoUs) with industry leaders and ecosystem enablers to strengthen the support available to recognised startups. The partnerships with Cashfree Payments, Darwin Dynamics LLP, Vultr India Pvt Ltd, Cars24 Services Pvt Ltd and the Council for Startup India (CSI) aim to expand access to digital infrastructure, cloud computing, mentorship, investment and global markets. The agreements, announced on 8 August 2026, are the latest in a series of corporate tie-ups under the government’s Startup India initiative.
About DPIIT and the Startup India Initiative
The Department for Promotion of Industry and Internal Trade (DPIIT) is the central government department responsible for industrial policy, foreign direct investment, intellectual property rights and internal trade. It was first established as the Department of Industrial Policy and Promotion (DIPP) in 1995 and was renamed DPIIT in January 2019 to bring domestic trade promotion within its mandate. As the nodal department for startups, DPIIT implements the flagship Startup India initiative.
Startup India was launched on 16 January 2016 with the aim of transforming India into a nation of job creators rather than job seekers. Every year, 16 January is celebrated as National Startup Day. The initiative provides recognition to eligible entities, defined as private limited companies, registered partnership firms or limited liability partnerships that are less than ten years old, have an annual turnover below ₹100 crore and are working on innovation or improvement of products and services.
The programme’s scale has grown rapidly. As of December 2025, more than 2.07 lakh startups had been recognised by DPIIT, creating over 21.9 lakh direct jobs, with about half of the recognised ventures emerging from Tier-II and Tier-III cities. India is now the third-largest startup ecosystem in the world after the United States and China. The MoUs signed in August 2026 build on this decade-long momentum, which marked its 10th anniversary on 16 January 2026.
Digital Payments and Fintech Support from Cashfree Payments
The MoU with Cashfree Payments India Private Limited is designed to enhance access to digital payment infrastructure, financial technology solutions and capacity-building for recognised startups. Cashfree Payments is a Bengaluru-based fintech company founded in 2015 that provides payment gateways, payout solutions, identity verification and risk management services to businesses.
Under the agreement, eligible startups will receive secure and scalable payment and payout solutions, identity verification services, risk management tools and preferential onboarding support along with commercial benefits. The collaboration also covers founder workshops, mentoring sessions, AI buildathons and hackathons, with a focus on digital payments, compliance, fraud prevention, KYC and cross-border transactions. The goal is to combine DPIIT’s institutional reach with Cashfree’s payments expertise so that startups can manage collections and disbursals efficiently while scaling their operations.
Cloud Infrastructure Access Through Vultr India
The partnership with Vultr India Pvt Ltd targets one of the biggest hurdles for young technology companies: the high cost of computing infrastructure. Vultr is a cloud computing company founded in 2014 and headquartered in West Palm Beach, Florida, operating data centres in more than 30 regions worldwide. Its platform offers cloud compute, storage, networking, Kubernetes and GPU services.
Under this MoU, eligible DPIIT-recognised startups will gain access to cloud credits, preferential pricing and technical support through Vultr’s startup programmes. The collaboration includes structured training and technical handholding on cloud computing, storage, databases, Kubernetes, networking and application deployment. Vultr will also explore participation in Startup India and DPIIT-led events to promote wider adoption of cloud technology. By lowering technology adoption barriers, the partnership is expected to help startups build and scale digital products faster and compete in global markets.
Entrepreneurship Development with Darwin Dynamics
The MoU with Darwin Dynamics LLP seeks to expand the reach of the Startup India initiative beyond major urban centres. The partnership aims to promote entrepreneurship across Tier-II, Tier-III and rural regions through mentorship, institutional networks, market opportunities and capacity-building support.
Darwin Dynamics will work on startup formalisation drives, entrepreneurship awareness programmes, bootcamps and mentor network development. It will also promote innovation in strategic sectors including clean energy, green hydrogen, artificial intelligence, climate technologies and advanced manufacturing. The collaboration is designed to create new opportunities for youth, women entrepreneurs, first-generation founders and innovators from underserved regions, aligning with India’s ambition of becoming a globally competitive, innovation-led economy.
AI-Driven Mobility Innovation with Cars24
The agreement with Cars24 Services Pvt Ltd focuses on India’s mobility and automotive technology ecosystem. Cars24 is an online marketplace for used cars, founded in 2015 and headquartered in Gurugram, Haryana, known for its AI-enabled pricing engine and tech-first approach to buying and selling pre-owned vehicles.
Under the MoU, Cars24 will provide structured mentorship to startup founders, promote mobility and autotech skilling programmes, facilitate AI-focused technology enablement and organise innovation challenges and hackathons. The collaboration will also support promising startups through investment evaluation and ecosystem engagement, particularly in the areas of mobility and artificial intelligence. Cars24 has also been active in road safety initiatives, including its Crashfree India programme, which aligns with the broader goals of this partnership.
Investment Access and Global Competitiveness with the Council for Startup India
The MoU with the Council for Startup India (CSI) addresses one of the most persistent challenges faced by Indian startups: access to investment, strategic partnerships and global markets. CSI is a national-level, not-for-profit organisation established in 2023, chaired by former Chief Justice of India K. G. Balakrishnan and co-chaired by scientist Dr Raghunath A. Mashelkar.
As part of the agreement, CSI will run dedicated programmes on investment readiness, corporate engagement, CFO matchmaking, global market access and international innovation collaborations. It will also help founders with governance, financial readiness, compliance and international expansion while strengthening linkages between startups, investors, industry and policymakers. The aim is to enable recognised startups to scale sustainably and strengthen their competitiveness in global markets.
A Pattern of Corporate Partnerships
These five MoUs are not isolated agreements. DPIIT has steadily been building a network of corporate partners to plug critical gaps in the startup ecosystem. Since 2025, the department has signed MoUs with more than 50 companies, including ITC, Flipkart, Mercedes-Benz, Hero MotoCorp, boAt, Zepto, Kotak Mahindra Bank, Yes Bank, Paytm and Ather Energy, to support manufacturing innovation, market access and early-stage startups.
The approach is simple: established firms bring capital, infrastructure, mentorship and market access, while DPIIT brings institutional reach and policy support. Earlier agreements, such as those with Hero MotoCorp through its Hero For Startups accelerator and with Zepto through the Zepto Nova innovation challenge, have focused on mobility and manufacturing. The August 2026 batch extends this framework into digital payments, cloud infrastructure, deep-tech and global investment readiness.
Significance of the August 2026 MoUs
Taken together, the five agreements cover the full life cycle of a startup, from payments and computing infrastructure at the early stage to mentorship, skilling, investment and international expansion at the growth stage. This coordinated support matters because Indian startups often struggle with three specific gaps: access to affordable digital infrastructure, access to growth capital and access to global markets.
The partnerships also align with the government’s broader goals under Make in India, Atmanirbhar Bharat and Viksit Bharat 2047. By directing cloud credits, fintech tools and investment readiness programmes to recognised startups, the government hopes to deepen India’s innovation ecosystem and raise its global competitiveness. The emphasis on Tier-II and Tier-III cities through the Darwin Dynamics partnership reflects a conscious push to spread entrepreneurship beyond the metros, where about half of recognised startups already originate.
Key Takeaways
- The Department for Promotion of Industry and Internal Trade (DPIIT) signed five strategic MoUs with industry partners on 8 August 2026 to strengthen support for recognised startups.
- The partners are Cashfree Payments (digital payments), Vultr India (cloud infrastructure), Darwin Dynamics LLP (entrepreneurship development), Cars24 Services (mobility and AI innovation) and the Council for Startup India (CSI) (investment and global markets).
- Startup India, the parent initiative, was launched on 16 January 2016, and 16 January is celebrated as National Startup Day.
- As of December 2025, over 2.07 lakh startups had been recognised under Startup India, creating more than 21.9 lakh direct jobs.
- DPIIT was established in 1995 as the Department of Industrial Policy and Promotion (DIPP) and was renamed in January 2019.
- The Council for Startup India, established in 2023, is a not-for-profit body chaired by former Chief Justice of India K. G. Balakrishnan.
