FICCI, Mercedes-Benz India Launch 'Bharat Innovation Challenge' For Early-Stage Startups
A new initiative to support early-stage innovators was unveiled on 20 September 2024. The Federation of Indian Chambers of Commerce & Industry (FICCI) and Mercedes-Benz India launched the 'Bharat Innovation & Business Ideas Challenge Programme'. The scheme aims to boost India’s startup ecosystem by fostering fresh ideas and industry partnerships.
The programme will focus on key sectors like manufacturing, sustainability, decarbonisation, electric mobility, and education. Its goal is to turn promising concepts into market-ready solutions while strengthening ties between industry and academia. This aligns with the broader vision of Viksit Bharat (Developed India).
Selected participants will gain access to expert mentorship, industry exposure, and chances to present their ideas at FICCI’s major events. The top seven innovators will also receive financial support of up to ₹30 lakh each. At the launch, Sanjiv Singh, Joint Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stressed the need for corporate-startup collaborations to drive innovation. Santosh Iyer, Managing Director & CEO of Mercedes-Benz India, added that fostering entrepreneurship and skill development is crucial for building a sustainable, competitive nation.
The challenge programme opens doors for innovators to develop solutions in critical sectors. With mentorship, funding, and industry connections, it seeks to accelerate the transition from ideas to real-world applications. The initiative reflects a joint effort to strengthen India’s position in global innovation.
