With an aim to help innovative and upcoming startups, e-commerce major Flipkart has launched its very own startup accelerator program – ‘Flipkart Leap’ on 10 Aug 2020.
The accelerator program will identify and support innovative startups to navigate challenges & scale. Flipkart Leap aims to promote the startup ecosystem of India and support ‘Start-up India’ and ‘Make in India’. It will identify potential B2C and B2B startups, make them market-ready and allow them to win an equity-free grant of $25,000.
Flipkart Leap is a 16-week program which includes–
- Hands-on workshops
- One-on-one mentor sessions
- Master classes from industry experts
- Networking events designed to turbo-charge your startup journey.
Key offerings of the Program–
- Access to Flipkart’s Ecosystem
- Possible Partnership with Flipkart and its partners
- Technical and Business Mentorship from experts in Flipkart’s network
- Exposure to VC community as a part of Demo Day
- Consideration for funding by Flipkart
- Masterclass sessions hosted by industry experts
- An early stage start-up based in India.
- Should have a working prototype and strong early adoption.
- Must possess an innovative and scalable idea coupled with a great team known for execution excellence.
The focus for the first cohort of Flipkart Leap is early-stage startups with a working prototype and early adoption metrics in various areas – Consumer and Technology Products, Agritech, Healthtech, Edtech, Digital Commerce, Technologies to empower retail ecosystem, Supply Chain Management and Logistics and Deeptech.
Flipkart Group CEO Kalyan Krishnamurthy said “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.”
Startups can join the program free of cost. Around 6-8 startups will be selected for the first cohort of 2020. Startups will have to apply online. The evaluation process is a three-stage screening process. Shortlisted applicants will be invited for a final pitch session to the Flipkart leadership. The final selection is based on the strength of the business idea/plan, team capabilities and relevance to the focus areas.
The deadline for applying is 30 Sept 2020, followed by the business pitching on 10 October. The winners announcement and cohort launch will be on 15 October.