DPIIT Partners With Cars24 To Support Startups With AI, Funding And Mentorship

New Delhi, Aug 7 (KNN) Gurugram-based Cars24 has signed a memorandum of understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to collaborate on initiatives aimed at strengthening India’s startup ecosystem.

The partnership will focus on sectors such as artificial intelligence (AI), mobility, and road safety, according to a company statement.

Support for Early-Stage Startups

Under the agreement, Cars24 will provide support to early-stage startups through mentorship, AI enablement, skilling programmes, and access to investment opportunities. DPIIT will facilitate outreach through the Startup India platform, according to The Economic Times.

Key initiatives include the launch of the Cars24 Founders’ Fellowship to mentor entrepreneurs, mobility and autotech skilling programmes, and AI support through Cars24 Labs. A funding platform, ‘Fuel by Cars24’, will also be introduced to connect startups with investors.

Focus on Innovation and Road Safety

The collaboration will include an annual innovation challenge and a road safety hackathon aimed at encouraging technology-driven solutions for safer mobility.

Non-Binding Agreement

The MoU is non-binding and may be extended by mutual consent. It is expected to promote innovation, entrepreneurship, and knowledge-sharing through joint programmes.

(KNN Bureau)