Flipkart: New Startup Programmes
LEAP is the new start up programme of Flipkart. It is also called Leap Ahead. It aims to help the start ups in India. Under this LEAP programme, Flipkart is to implement two programmes. They are FLIN and FLA. FLIN is Flipkart Leap Innovation Network. FLA is Flipkart Leap Ahead.
About LEAP
It will invest in start ups focusing on cutting edge technologies. Also, it will invest in startups that are working on innovative technologies that are of priority to the company. The selected start ups will work with the tech and product teams of Flipkart.
The programme will identify start ups in fintech, logistics, supply chain, alternate commerce, agritech, social health tech, B2B and edtech.
Part of 100 million USD plan
The LEAP programme is a part of the seed – stage investment of Flipkart. In 2021, Flipkart announced 100 million USD as seed fund for the Indian start ups. LEAP is a part of this investment plan of Flipkart.
Work Done so far
In July 2021, Flipkart selected 8 startups under the programme. These start ups participated in a 16 – week training like programme conducted by Flipkart. They attended workshops, one – to – one mentor sessions and classes from industrial experts to speed up the development of startups in the country.
Features of the programme
- Equity based investment up to 500,000 USD
- Customised curriculum created by experts from industries
- Mentorship from senior Flipkart experts who are well versed in subject matters
- Better connect with Flipkart ecosystem
- Develop core product solution
Aim of the programme
To help the startups navigate through different challenges faced by the entrepreneurs. The startups in following areas shall apply for the programme:
- Redefining customer experience
- Building for the retail ecosystem
- Future of Fashion
- Rethinking supply chain
- Accelerating Digital Commerce
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Month: Current Affairs - January, 2022
Category: Economy & Banking Current Affairs