Fintech company Paytm is now the official sponsor of the 37th edition of the National Games in Goa. The tournament was inaugurated by Prime Minister Narendra Modi at the Jawaharlal Nehru Stadium in Fatorda, South Goa.
In addition to the sponsorship, Paytm has also become the exclusive mobile payments partner for the Goa government. They will be introducing QR codes, soundbox, and card machines in multiple government departments in the state, according to a statement.
The 37th edition of the National Games is taking place from October 26 to November 9, with over 10,000 athletes competing in 43 sports disciplines at 28 venues. The event will involve the participation of 28 states and 8 union territories.
Sporting events provide companies with an opportunity to build mindshare through advertising and sponsorship deals. Paytm is one of the startups that signed a sponsorship deal for the Indian Premier League (IPL) this year. Despite the challenges faced by the Indian startup ecosystem, sports events like the IPL are still favored by startups for promotional activities.
Paytm reported a decline in its consolidated net loss and an increase in operating revenue for the quarter ended September 2023.
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