ADIF, PHDCCI sign agreement to boost Indian startup, innovation ecosystem

Industry bodies Alliance of Digital India Foundation (ADIF) and PHD Chamber of Commerce & Industry (PHDCCI) have signed a two-year agreement to foster the Indian startup and innovation ecosystem.

The two-year memorandum of understanding (MoU), signed at PHD house New Delhi office, seeks to create an environment that fosters independent thinking and cultivates groundbreaking ideas across various sectors of the Indian economy.

ADIF associate director Prateek Jain said the alliance is a crucial step to democratise India's digital entrepreneurship landscape.

"This MoU goes beyond conventional support mechanisms and focuses on architecting a holistic ecosystem that nurtures innovation at every stage of a startup's journey. By leveraging PHDCCI's vast industry connections and our digital expertise, we are laying the groundwork for unprecedented growth and innovation in India's startup scene," Jain said.

The initiative will involve workshops, training sessions, and seminars designed to enhance the skills of entrepreneurs, provide networking opportunities, and facilitate knowledge transfer from industry experts to emerging startups.

"We are not just aiming to increase the number of startups; our goal is to significantly enhance their quality and success rate. This partnership aligns perfectly with our vision of fostering innovation-led growth and positioning India as a global leader in entrepreneurship," said Ranjeet Mehta, executive director at PHDCCI.