The Department for Promotion of Industry and Internal Trade (DPIIT) on Saturday said it has joined hands with venture debt firm Stride Ventures to support high growth potential start-ups in their funding requirements.

It said this collaboration will be instrumental in creating enormous opportunities for start-ups by integrating financial support with strategic mentorship and market access.

Highlighting the macroeconomic impact of this collaboration, Joint Secretary in DPIIT Sanjiv said Stride Ventures will curate dedicated programmes and collaborate on engagements like the Bharat Grand Challenge to promote entrepreneurship, innovation, and investment.

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Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, said “this partnership, coupled with our billion-dollar commitment to nurturing start-ups, reaffirms our resolve to strengthen India’s start-up ecosystem”.

The department said Stride Ventures will give thrust “on identifying start-ups with high growth potential, offering funding, market access, and policy support”.

Start-ups from tier-2 and tier-3 cities will receive targeted guidance, mentorship, and access to a global mentor network to support their scaling journey, it added.

“Additionally, the initiative will create awareness about diverse fundraising instruments, including venture debt, to enable start-ups cherish their growth aspirations,” it said.