BENGALURU: E-commerce firm Flipkart on Monday announced ‘Leap Ahead’ and ‘Leap Innovation Network’, two new programmes for start-ups. The company has already completed its first cohort of the programme Flipkart Leap, which has now evolved into two new programmes.
Flipkart Leap Ahead will invest in seed-stage start-ups that have disruptive business models and are innovating in areas that are a priority for the Flipkart group.
The programme aims to identify start-ups across sectors with a broad focus on fintech, supply chain, logistics, SaaS (focused on consumer tech), alternate commerce, B2B, social, healthtech, agritech and edtech, among others.
The selected start-ups will participate in a mentorship programme, customised curriculum and workshops run by Flipkart experts, prominent investors, and industry specialists. They will also receive an equity investment from Flipkart ranging between $150k and $500k as well as ecosystem connects, co-developing products and strategies, Flipkart said.
The Flipkart Leap Ahead programme will be the cornerstone of seed-stage investments made by Flipkart Ventures, the $100 million venture fund announced last year by Flipkart. Ravi Iyer, Senior Vice-President and Head - Corporate Development, Flipkart, said, “With dedicated tracks for early-stage and growth-stage start-ups, this cohort will now expand its benefits to a much wider pool of entrepreneurs who are solving for digital India — be it meaningful partnerships and potential projects with Flipkart or equity investment that enables them to scale up further.”