The MoU between SIIC and YES Bank was formalized during an event organized by representatives of both the entities.
Professor Abhay Karandikar, Director, IIT Kanpur, emphasized on the goal of the program to provide critical financial and infrastructural support to startups to facilitate their rapid growth.
The Startup Incubation and Innovation Center (SIIC) at the prestigious Indian Institute of Technology Kanpur (IITK) is on its way to revolutionize the startup ecosystem in India. Taking a major step towards this goal, SIIC has recently joined hands with YES Bank by signing a Memorandum of Understanding (MoU), which seeks to provide significant support to startups incubated at SIIC.
Under the terms of the MoU, SIIC and YES Bank will work together to identify innovative startups and provide them with the necessary financial support. The strategic partnership aims to strengthen the startup ecosystem in India by providing access to a wide range of resources to these ventures through YES Bank’s exclusive startup-focused program YES HEAD-Startup. Backed by a full-service banking proposition, this program is specially tailored for technology-based or technology-enabled startups and is complemented by an exclusive privilege program.
Expressing his enthusiasm, Professor Abhay Karandikar, Director, IIT Kanpur, highlighted the objective of the program to empower startups with critical financial and infrastructural support to facilitate their rapid growth. He emphasized that this initiative is one of the many initiatives taken by IIT Kanpur to ensure professional success of its students and contribute to the process of nation building.
In a statement released to the press, Professor Ankush Sharma, in-charge of SIIC at IIT Kanpur, emphasized the importance of providing startups with the necessary resources and support to foster an environment that encourages entrepreneurship and innovation. By doing so, SIIC aims to pave the way for a brighter future for the Indian startup community. Sharma believes that this collaborative effort has immense potential for social impact by creating employment opportunities, driving economic growth and driving technological advancements that will positively impact various sectors of the Indian economy.
The MoU between SIIC and YES Bank was formalized during a function which was attended by eminent personalities from SIIC, IIT Kanpur and YES Bank.