What happened: DPIIT signed an MoU with Cars24 for mobility, auto-tech and AI innovation
The Department for Promotion of Industry and Internal Trade (DPIIT) partnered with Cars24 Services Private Limited through a memorandum of understanding (MoU). The MoU aims to strengthen India’s startup ecosystem in the mobility and automotive technology (auto-tech) ecosystem by supporting AI-driven innovation, founder development, skilling, investment opportunities, and road safety initiatives.
What the MoU plans to do (as stated in the release)
Cars24 Services Private Limited is expected to contribute through structured founder support and startup-led innovation efforts, including:
Structured mentorship for startup founders to improve execution capability.Promotion of mobility and auto-tech skilling programmes for capacity building.AI-focused technology enablement for startups working on artificial intelligence related mobility solutions.Organisation of innovation challenges and hackathons to encourage startup-led solutions.Support for promising startups through investment evaluation and ecosystem engagement, especially in mobility and artificial intelligence.
Background and earlier position: DPIIT’s role in promoting industry and startups
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