DPIIT inks pact with Yes Bank to support startups
DPIIT has signed a pact with Yes Bank to facilitate funding access, mentorship, and infrastructure support for early-stage startups.
The Department for Promotion of Industry and Internal Trade (DPIIT) on Thursday said it has signed a pact with Yes Bank to facilitate funding access, mentorship, and infrastructure support for early-stage startups.
This agreement aims to foster innovation and provide crucial support to product startups, innovators, and entrepreneurs across the country, it said.
"The partnership will leverage DPIIT's Startup India initiative and Yes Bank's financial expertise to facilitate market linkages, funding access, mentorship, and infrastructure support for early-stage ventures," it said.
Startups will benefit from Yes Bank's HeadStartup programme, which offers tailored banking and financial solutions, including working capital, credit access, and cash flow management.
"Additionally, they will gain access to Yes Bank's extensive network, strategic partnerships, and industry expertise, enabling them to scale operations and attract investments effectively," it added.
Speaking on the occasion, Joint Secretary, DPIIT, Sanjiv said the collaboration would offer emerging startups the right resources and opportunities to scale and thrive.
The DPIIT has also inked a similar agreement with Kyndryl Solutions for supporting startups in the manufacturing and IT sectors by leveraging Kyndryl's expertise in digital transformation and Generative AI solutions.
It said Kyndryl will institutionalise dedicated programmes to support digital product startups, AI-driven innovators, and entrepreneurs.
"Startups will receive mentorship on product development, market readiness, cybersecurity resilience, and enterprise deployment," it added.