Yes Bank Partners with DPIIT to Boost India's Startup Ecosystem
Yes Bank has entered into an agreement with the Department for Promotion of Industry and Internal Trade (DPIIT) in the form of a Memorandum of Understanding (MoU) with the objective to enhance India's startup ecosystem. The collaboration seeks to promote innovation and extend the necessary support to product startups, innovators, and entrepreneurs from all over the country. The collaboration, based on DPIIT's Startup India initiative and financial acumen of Yes Bank, intends to ease market linkages, access to funding, mentorship, and infrastructure support to early-stage start-ups.
Under this program, startups will have access to Yes Bank's HeadStartup program, which provides customized banking and financial services, such as working capital, credit availability, and cash flow management. They will also have access to the bank's large network, strategic alliances, and sectoral knowledge, which will help them scale operations and raise investments successfully.
Sanjiv, Joint Secretary, DPIIT, put weight behind the importance of this partnership, saying that the manufacturing and startup ecosystem of India is at an evolutionary point and partnerships like these are crucial in steering growth-led innovation. He stressed that co-operation with Yes Bank would give nascent startups the requisite resources and avenues to scale and thrive.
Similarly, DPIIT has also collaborated with Kyndryl Solutions Pvt. Ltd. to enhance India's manufacturing and IT ecosystems. The collaboration will enhance innovation by providing mentorship, technological assistance, and exposure to large-scale enterprise solutions, further driving the growth of Indian startups.
