As per the officials, Paytm Payment Services Limited and Arunachal Pradesh Innovation and Investment Park signed an MoU to develop a startup environment for young people in the northeastern state.
Based on the agreement, Paytm Incubation Centre will offer free credits through the Paytm Startup toolkit and will offer its product to early-stage firms at a subsidised rate in order to support young people's entrepreneurial endeavours as they expand.
This will encourage young entrepreneurs and support the state's startup environment.
The MoU was signed at the Arunachal Pradesh Innovation & Investment Park, the first state-owned marquee incubator here in the presence of its CEO Tabe Haidar.
"We are happy to partner with the government of Arunachal Pradesh in its journey to create a vibrant startup ecosystem. At the Paytm Incubation Centre, we strive to catalyse the startup ecosystem in India and help young entrepreneurs gain new user acquisition, access funds and more facilities," the spokesperson of Paytm Payment Services said.
"Our comprehensive platform helps businesses to expand their digital presence with quick integration of payment, brand and commerce solutions," he added.
India's payment app, Paytm, provides payment services to both customers and businesses. In the nation, it is a leader in mobile QR payments.
In collaboration with financial institutions, it also makes a variety of financial services available to its customers and merchants, enabling small business owners to conduct commerce.
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