ONDC Startup Festival organized in New Delhi

by Study Affairs · May 19, 2024

‘ONDC Startup Festival’ was organized by the Department for Promotion of Industry and Internal Trade (DPIIT) on 17 May 2024 in New Delhi.

Key Points

The event marks the celebration and collaboration of two key initiatives of DPIIT – Startup India Initiative and Open Network for Digital Commerce (ONDC).
The festival was organized in hybrid mode and around 5,000 startups participated.
Letters of Intent (LOI) were signed by over 125 ecosystem stakeholders including startups, unicorns and high growth businesses like EaseMyTrip, OffBusiness, Winzo, Livspace, GlobalBiz, Pristine Care, Cars24, Physics Wala, Policybazaar and Zerodha.
These LOIs demonstrate the capability of ONDC and the eagerness of the country’s leading startups to collaborate with the platform.

This is a unique collaboration between ONDC and Startup India initiative.
More than 5 lakh sellers are connected to the platform, of which more than 70 percent are small sellers.
ONDC facilitated approximately 7.22 million transactions in April 2024. To realize this, ‘ONDC Startup Mahotsav’ was organized.
The overall growth of both the initiatives along with effective collaboration between the startups and ONDC are opening up vast opportunities for economies of scale and growth going forward.
A ‘Masterclass on Enabling Startups on ONDC’ was also organized to support and mentor the startups for on-boarding and effective utilization of ONDC.
ONDC was launched in the year 2021 as a first-of-its-kind protocol with the mission of democratizing digital commerce.
ONDC reduces barriers to entry into digital commerce and provides a level playing field for all e-commerce entities, especially small-scale businesses and the digitally excluded.
The challenges of startups in creating and finding markets can be solved through the ONDC platform.

Startup India initiative was launched on 16 January 2016 by the government to support entrepreneurs and build a strong startup ecosystem in the country.
From around 300 startups in the year 2016, India is currently one of the leading startup hubs with over 1.3 lakh DPIIT recognized startups.
They are working in more than 55 sectors and innovations are being introduced in various fields.
Startups have created more than 13 lakh direct jobs in the country.

Click here to read this article in Hindi.