Launches Flipkart Leap Ahead and Flipkart Leap Innovation Network
Will now have two new programs – Flipkart Leap Ahead and Flipkart Leap Innovation Network
Flipkart Leap Ahead will provide equity-based investments into startups present across varied sectors in the country
Flipkart Leap Innovation Network will enable companies across various stages of growth to enter into commercial partnerships with Flipkart’s technology teams
Starts inviting applications for Flipkart Leap Ahead & Flipkart Leap Innovation Network from January 17, 2022, onwards
Bengaluru, NFAPost: Flipkart announced the evolution of its flagship startup accelerator programme – Flipkart Leap to identify wider and relevant market opportunities for its selected startups.
After the successful completion of the first cohort of the programme, Flipkart Leap will now evolve into two new programmes – Flipkart Leap Ahead (FLA) and Flipkart Leap Innovation Network (FLIN).
Flipkart Leap is proud to announce this launch on National Startup Day, a day recognised by Prime Minister Narendra Modi recently to help startup culture spread better across India.
Designed to cater to the dynamic needs of startups across different stages, these two programs – FLA and FLIN will support the startups through insights, mentorship and funding as needed, while helping them scale and build disruptive innovations. With the introduction of these programs, the startup ecosystem will be able to access end-to-end partnerships with Flipkart across their growth stages.
Flipkart Senior Vice President and Head – Corporate Development Ravi Iyer said as a homegrown company, Flipkart is thrilled to bring innovative propositions back to the ecosystem to foster new-age startups.
“On the back of its early success, we are evolving Flipkart Leap and bringing relevant offerings that can support startups in the long run. With dedicated tracks for early-stage and growth-stage startups, 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,” said Flipkart Senior Vice President and Head – Corporate Development Ravi Iyer.
The Flipkart Leap program graduated its first cohort in July 2021 with eight startups, who have gone on to successfully raise further funding/investment post their selection in the programme.
Flipkart Leap Ahead
Flipkart Leap Ahead will invest in seed-stage startups at the cutting edge of the latest technology across varied sectors, which have disruptive business models and are innovating in areas that are a priority for the Flipkart group. The programme aims to identify startups 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 startups will be able to participate in a mentorship program encompassing benefits such as 1:1 connects with experienced Flipkart leaders, customized curriculum and workshops run by Flipkart experts, prominent investors, and industry specialists. In addition, they will receive an equity investment from Flipkart ranging between $150K – $500K as well as ecosystem connects, co-developing products and strategies.
The Flipkart Leap Ahead program will be the cornerstone of seed-stage investments made by Flipkart Ventures, the $100M venture fund announced earlier last year by Flipkart.
Flipkart Leap Innovation Network (FLIN)
The Flipkart Leap Innovation Network programme has been designed to enable a broader set of start-ups to engage with Flipkart’s product and tech teams.
The Flipkart Leap Innovation Network will look at a wider pool of mature startups that have a viable product that solves problems across themes such as – rethinking supply chain, building retail tech, accelerating digital commerce, future of fashion, and redefining customer experience. A select set of startups will also get the opportunity to execute pilots and forge commercial partnerships with Flipkart.
Flipkart Chief Product and Technology Officer Jeyandran Venugopal said as Flipkart continues to strengthen its commitment to the growing startup ecosystem in India, Flipkart is proud to introduce programmes that support the growth of the start-up ecosystem in the country.
“Our programmes Flipkart Leap will now support a much wider base of start-ups, presenting growth opportunities to businesses to help accelerate their journey while leveraging benefits through the Flipkart Group’s ecosystem. We want to identify and work with businesses that are building relevant solutions to India-specific e-commerce problems and get more customers to benefit from e-commerce,” said Flipkart Chief Product and Technology Officer Jeyandran Venugopal.
Flipkart Chief Product and Technology Officer Jeyandran Venugopal said in Flipkart’s journey to reach the next 200 million customers, Flipkart will look out for start-ups that have innovative solutions that cater to the dynamic needs of the country and help them scale their vision with the company.
The startups in FLIN will be able to participate in various topical workshops with Flipkart and industry experts, to help them build robust solutions with product market fit for the e-commerce industry. In addition, the startups in this exclusive network will benefit from peer-to-peer learning from the community of entrepreneurs.
Starting January 17, 2022, the Flipkart Leap Ahead and Flipkart Leap Innovation Network will start accepting applications from startups. The applications are open till February 28, 2022.
For the application process and further information on Flipkart Leap please visit: https://www.flipkartleap.com/