Flipkart launches accelerator program for early-stage Indian startups

Indian ecommerce major Flipkart has launched today a startup accelerator program to support early-stage Indian startups in the tech and consumer internet spaces.

Called Flipkart Leap, the new initiative seeks to help business-to-consumer and business-to-business startups scale through a 16-week virtual program. Selected startups may receive US$25,000 in equity-free grants.

Photo credit: moovstock / 123RF Stock Photo.

According to a statement, Flipkart Leap seeks tech solutions that could help transform ecommerce in the next five years. It will then shortlist startups based on five themes: design and make for India, innovation in digital commerce, technologies to empower the retail ecosystem, supply chain management and logistics, and relevant deep-tech applications.

Eligible startups should be based out of India and have a working prototype that demonstrates early adoption. Upon completion of the program, the final participants will pitch their model to investors, corporates, and other ecosystem players on demo day. They may also be considered for funding via Flipkart’s venture fund.

The program is looking to select six to eight startups for its first cohort this year, which will kick off in October, according to its website. Participating startups will gain access to mentors from Flipkart’s leadership team, master classes hosted by industry experts, as well as other relevant resources for building market-ready solutions.

Flipkart Leap, which was developed in light of the Indian government’s Start-Up initiative, is a joint collaboration between Flipkart and US-based management consulting company Zinnov. It will be managed by the ecommerce firm’s product strategy and deployment team led by Naren Ravula.

Founded in 2007,  Flipkart Group consists of Flipkart, fashion ecommerce platform Myntra, and digital payments unit PhonePe. It also recently launched a new digital marketplace called Flipkart Wholesale.

In June, the company raised US$1.2 billion in a funding round led by Walmart, bringing its valuation to nearly US$25 billion. It’s also backed by Tiger Global Management, eBay, and SoftBank, among others.