New Delhi: In a move to enhance India’s startup landscape, the Department for Promotion of Industry and Internal Trade (DPIIT) today entered into a Memorandum of Understanding (MoU) with Yes Bank. This partnership is designed to stimulate innovation and support product startups, innovators, and entrepreneurs nationwide.
By combining the resources of DPIIT’s Startup India initiative with Yes Bank’s financial acumen, the collaboration aims to improve market connections, access to funding, mentorship, and infrastructure for nascent businesses. Startups will particularly benefit from Yes Bank’s Head Startup program, which provides customised banking and financial services, including working capital, credit options, and cash flow management. Furthermore, they will tap into Yes Bank’s vast network, strategic alliances, and industry insights, which will help them scale their operations and secure investments more effectively.
During the signing event, Sanjiv, Joint Secretary of DPIIT, highlighted the importance of this partnership, noting that “India’s manufacturing and startup ecosystem is at a transformative juncture, and collaborations like this are essential for fostering innovation-driven growth. We are excited to work with Yes Bank to equip emerging startups with the necessary resources and opportunities to expand and succeed.”
The MoU was officially signed by Dr. Sumeet Jarangal, Director of DPIIT, and Rohit Aneja, Zonal Head of Yes Bank, with senior officials from both organizations in attendance.
“This collaboration represents a pivotal advancement toward establishing a strong and self-sustaining startup ecosystem in India,” the Ministry of Commerce & Industry, stated.
– global bihari bureau
