Plotch Collaborates with Microsoft to Launch ONDC-Focused Accelerator for Startups
- ByStartupStory | June 9, 2023
Plotch.ai, a SaaS firm, has unveiled an accelerator program aimed at facilitating the adoption of the Open Network for Digital Commerce (ONDC) by startups in India. In partnership with Microsoft, Plotch.ai will actively assess, choose, launch, and scale startups that focus on building the ONDC ecosystem and developing innovative tools and technologies. This initiative encompasses AI-based startups that specialize in improving local language search capabilities for products, leveraging openAI models to enhance catalogs, and creating conversational storefronts for voice-enabled shopping experiences, among other advancements.
As part of the central government’s initiative to boost ecommerce penetration in India, Plotch.ai is extending its support to startups by assisting them in becoming part of the Open Network for Digital Commerce (ONDC) network. Plotch.ai will actively guide these startups in the adoption of their technologies by participants within the ONDC network. This collaboration aims to accelerate the integration of innovative solutions and drive the growth of ecommerce in India.
“ONDC accelerator is a massive step forward in creation and enabling of population scale technologies which will accelerate faster adoption of ONDC by various stakeholders including consumers, sellers and app developers,” Manoj Gupta, CEO of Plotch.ai, said.
Plotch.ai anticipates choosing approximately ten companies for their inaugural cohort of startups and plans to make the official announcement before the end of June. The potential for digital consumption in India is projected to skyrocket, reaching a staggering $340 billion by 2030, with an estimated 500 million digitally active consumers.
Furthermore, there is a growing opportunity for broader network expansion, as digital penetration among B2B companies is expected to increase to 8 to 10%. A recent report from McKinsey highlights the potential of the ONDC network to foster inclusivity by connecting approximately 80 to 90 million self-employed individuals with demand and welcoming a significantly higher number of MSMEs into a thriving and diverse ecosystem.
“This will help create technologies which will enable faster and easier adoption of ONDC especially by small and medium enterprises,” said Thampy Koshy, MD and CEO, ONDC.
“The ONDC accelerator has huge potential to scale e-commerce penetration in India and we are committed to empowering startups across the country with the right tech tools, platforms and mentorship they need to contribute in scaling this ecosystem,” said Sangeeta Bavi, executive director, Digital Natives, Microsoft India.
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