New Delhi: Seven Indian startups have been selected for ₹30 lakh each in funding under the Bharat Innovation & Business Ideas Challenge Programme, a corporate innovation initiative led by FICCI and Mercedes-Benz India with strategic support from the Department for Promotion of Industry and Internal Trade.
However, the program does not just involve a one-off grant. Every winner will also be part of a mentoring track that spans a year after the funding, which will enable the entrepreneur to develop a solid business model and be ready for institutional funding.
The challenge focused on early-stage ventures working across sectors seen as critical to India’s next phase of industrial and social development. These include advanced manufacturing, sustainability, education, industrial decarbonisation, automotive systems and electric vehicles.
A nationwide selection process brought in applications from across the country. From these, 32 startups were shortlisted to present their ideas before an expert jury. The final seven were chosen on the basis of technological innovation, market scalability, business stability and social impact.
DPIIT Additional Secretary Ateesh Kumar Singh said initiatives that combine funding with strategic guidance can help Indian innovators build solutions aligned with national priorities. He also underlined the role of public-private collaboration in strengthening India’s innovation-led growth.
What makes the programme significant is the structure that follows the funding. The selected startups will receive guidance across areas that often decide whether a promising idea can become a scalable business.
These include regulatory affairs, legal compliance, taxation, fund utilisation, future fundraising, valuation, term sheet negotiations, data privacy, cybersecurity and intellectual property protection.
The winners will also join a Sounding Board Programme, where they will receive sector-specific advice, leadership inputs and support in refining product-market fit. Dedicated Demo Days will give them a platform to pitch to venture capital investors, corporate buyers and other ecosystem stakeholders.
For many early-stage startups, the gap between building a strong product and building a fundable company can be wide. This programme attempts to bridge that gap by combining capital, corporate mentorship and investor access in a single framework.
The Bharat Innovation & Business Ideas Challenge reflects a growing shift in India’s startup ecosystem, where financial support is increasingly being linked with long-term business handholding. For the seven selected startups, the award is not just a funding milestone. It is an opportunity to test their ideas against industry expectations, sharpen their growth plans and build for markets beyond the pilot stage.
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