“ONDC Launches ‘Build for Bharat’ Initiative to Revolutionize Digital Commerce in India”
The Open Network for Digital Commerce (ONDC) has unveiled a groundbreaking initiative aimed at revolutionizing India’s digital commerce landscape. In partnership with Google Cloud India, Antler in India, Paytm, Protean, and Startup India, the ‘Build for Bharat’ initiative intends to address pivotal challenges in the digital commerce sphere while fostering innovation within the industry.
The Open Network for Digital Commerce (ONDC) has unveiled a groundbreaking initiative aimed at revolutionizing India’s digital commerce landscape. In partnership with Google Cloud India, Antler in India, Paytm, Protean, and Startup India, the ‘Build for Bharat’ initiative intends to address pivotal challenges in the digital commerce sphere while fostering innovation within the industry.
Announced on December 4, the initiative seeks to harness India’s technological prowess and entrepreneurial spirit, targeting over 200,000 participants comprising startups, companies, and educational institutions. With a nationwide scope spanning across 50+ cities, ‘Build for Bharat’ aims to bring together top experts, leaders, venture capitalists, and incubators.
Objective and Structure
The initiative is strategically structured to cover crucial sectors including Retail, Mobility, F&B, Financial Services, and Logistics. It is designed to yield three specific outcomes, each offering unique opportunities for collaboration and rewards.
NextGen Ventures, the first category, is tailored to catalyze venture creation within the ONDC ecosystem. It invites aspiring founders exploring diverse ideas or early-stage founder teams developing innovative concepts. This category provides avenues for capital raising, company launch, scaling, and business incubation.
Scalable Solutions, the second category, invites participation from organizations or individuals aiming to resolve friction points encountered by network participants, fostering innovative and scalable solutions.
The third category, Foundation Solutions, exclusively caters to college students aged 18 and above, focusing on identifying proof of concept for addressing friction points faced by network participants.
Benefits for Participants
Winners across categories will gain substantial support and rewards. Category 3 winners will receive contributions from Google Cloud India, including cloud credits for shortlisted teams and eligible startups. Additionally, winners from Category 1 will receive mentorship from Antler in India and industry leaders, alongside equity-free grants of up to Rs 5 crore, potential access to Antler Residency, and avenues for venture capital funding. Google India will also offer cloud credits and valuable technical guidance to shortlisted teams.
The ‘Build for Bharat’ initiative signifies a strategic move to invigorate digital commerce, leveraging India’s burgeoning talent pool and technological advancements. With its focus on innovation, collaboration, and practical solutions, the initiative is poised to drive substantial changes within India’s digital commerce landscape.
Sources By Agencies
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