New Delhi: The FICCI Mercedes-Benz India Bharat Innovation & Business Ideas Challenge Programme concluded in the capital on Friday with the announcement of winners and a major policy boost for the start-up ecosystem.
Speaking at the event, Sanjiv Singh, Joint Secretary, DPIIT, said the government has designated a Rs 10,000 crore Fund of Funds for Startups, underscoring its commitment to strengthening entrepreneurship and scaling high-potential ventures. He noted that when Startup India was launched in 2016, only around 400 start-ups were formally recognised, and modest funding was considered significant. The new corpus reflects the scale and maturity India’s innovation landscape has achieved.
The initiative, launched in December 2025 by Federation of Indian Chambers of Commerce & Industry in partnership with Mercedes-Benz India, supports start-ups in manufacturing, sustainability, decarbonisation, electric mobility and education. From 32 shortlisted finalists, winners of the 2026 edition included CarbonM Fuelmax Technology Pvt Ltd, Exobot, AmpCycle, Dexsent Robotics Pvt Ltd, CALLX RINGERS Pvt Ltd and X Able. Seven start-ups received cheques of Rs 30 lakh each.
Singh emphasised that start-up success is built on perseverance, governance and long-term value creation. Vyankatesh Kulkarni, Executive Director & Head of Operations at Mercedes-Benz India, said innovation has become a national strength and reaffirmed the company’s commitment to fostering responsible entrepreneurship. The event brought together policymakers, investors and industry leaders, highlighting the role of public-pvt partnerships in advancing India’s innovation and growth ambitions under the Viksit Bharat @2047 vision.