The Department for Promotion of Industry and Internal Trade (DPIIT) on Thursday signed a Memorandum of Understanding (MoU) with HDFC Capital Advisors Limited to foster innovation and provide crucial support to startups operating in the affordable housing and property technology (PropTech) sectors.
According to the official statement, the collaboration is part of the H@ART Programme (HDFC Affordable Real Estate and Technology Programme), an initiative spearheaded by HDFC Capital. The programme is designed to enhance efficiency and reduce costs throughout the residential real estate development cycle.
It seeks to facilitate growth opportunities for startups by connecting them with the affordable housing developer ecosystem, making strategic investments in promising PropTech companies, and providing mentorship in collaboration with accelerators, academic institutions, and investors.
Sanjiv Singh, Joint Secretary of DPIIT, said, “This partnership marks another milestone in DPIIT’s ongoing efforts to catalyse public-private collaboration for a resilient, self-sustaining, and forward-looking innovation ecosystem”.
