Strategic Partnership to Boost Startup Ecosystem
The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, has entered into a Memorandum of Understanding (MoU) with Kotak Mahindra Bank Ltd. This collaboration aims to provide comprehensive financial and non-financial support to startups across India, fostering innovation and strengthening India’s position as a global startup hub.
Comprehensive Support for Startups
The MoU establishes a framework to deliver tailored banking solutions, credit and funding opportunities, digital payment infrastructure, and capacity-building initiatives for DPIIT-recognized startups. This partnership reflects DPIIT’s commitment to creating a robust innovation-led economy by equipping startups with essential tools for growth.
Exclusive Offerings by Kotak Mahindra Bank
Kotak Mahindra Bank will provide a range of specialized services, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and startup-specific cards. Additionally, the bank will offer mentorship, investment advisory, incubation support, and networking opportunities to help startups transition from ideation to scaling their operations.
Leadership Perspectives
Shri Sanjiv, Joint Secretary, DPIIT, emphasized the importance of this partnership, stating: “This collaboration underscores DPIIT’s efforts to foster a vibrant and inclusive innovation ecosystem. By bridging policy, industry, and finance, we aim to empower startups at every stage, enabling them to achieve sustainable global impact.”
Shri Raghavendra Singh, President, Kotak Mahindra Bank Ltd., added: “This partnership will enhance our engagement with the startup community through tailored financial solutions, mentorship, and access to networks, helping founders scale their businesses effectively.”
Driving India’s Innovation Economy
The initiative offers a dynamic support system, including banking services, advisory, technology enablement, funding access, and market linkages. Designed to support startups at every stage—from ideation to market expansion—this partnership leverages Kotak’s financial expertise and DPIIT’s policy leadership to accelerate India’s journey toward a self-reliant, innovation-driven economy.
Keyword: Startup Support
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