Techjockey News

Plotch, a SaaS company, has introduced an accelerator program to support Indian startups in embracing the Open Network for Digital Commerce (ONDC). This initiative aims to facilitate the adoption of ONDC and empower startups in the digital commerce space.

ONDC, a government initiative, aims to boost ecommerce adoption in India. It wants to expand the scope and influence of online commerce across the country, promoting economic growth and empowering both enterprises and consumers.

Plotch.ai and Microsoft are partnering to help startups that contribute to the ONDC ecosystem. They will support and promote innovative companies developing AI-based solutions like improved local language product search, enhanced catalogs driven by openAI models, and voice-enabled conversational storefronts for shopping.

According to Manoj Gupta, CEO of Plotch.ai, the ONDC accelerator is a significant advancement that will facilitate the creation and widespread use of population-scale technologies. It aims to expedite the adoption of ONDC by diverse stakeholders, including sellers, app developers and consumers.

Plotch.ai aims to assist startups in joining the ONDC network and facilitate the adoption of their technologies by ONDC network participants. The first cohort of around ten selected companies will be announced by the end of June. Thampy Koshy, MD and CEO of ONDC, believes this initiative will contribute to the development of technologies that enable faster and smoother adoption of ONDC, particularly by small and medium enterprises.

According to a recent report by McKinsey, digital consumption in India is projected to increase five-fold by 2030, reaching $340 billion. This growth would involve around 500 million consumers engaging in digital transactions.

Additionally, there is potential for broader digital penetration in B2B companies, estimated to grow up to 8 to 10%. This expansion can create a more inclusive network. It will connect approximately 80 to 90 million self-employed workers with demand and bring in 6 to 7 times MSMEs into a vibrant and diverse ecosystem.

Sangeeta Bavi, the Executive Director at Microsoft India, said that “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”.