AGENCY
NEW DELHI, Mar 20
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with YES BANK to bolster India’s startup ecosystem.
With this collaboration, the entities aim to foster innovation and provide crucial support to product startups, innovators, and entrepreneurs across the country. 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, Ministry of Commerce & Industry said in a statement. “Startups will benefit from YES BANK’s HeadStartup program, 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. DPIIT also signed the MoU with Kyndryl Solutions Pvt Ltd to accelerate innovation and scale India’s startup ecosystem.
The partnership will focus on supporting startups in the manufacturing and IT sectors by leveraging Kyndryl’s expertise in digital transformation and Generative AI solutions.
Under this partnership, startups will be empowered through mentorship, infrastructure support, and market access, enabling them to integrate their solutions into enterprise ecosystems across industries such as automotive, pharmaceuticals, BFSI, oil & gas, and government services, the Ministry of Commerce said in its statement.
It will institutionalize dedicated programs to support digital product startups, AI-driven innovators, and entrepreneurs.
With this partnership, the startups will receive mentorship on product development, market readiness, cybersecurity resilience, and enterprise deployment. Kyndryl will conduct advisory sessions and industry workshops to enhance customer experience and operational efficiency.
Speaking on the development, Joint Secretary, DPIIT, Sanjiv, stated that this collaboration marks an important step in fostering an innovation-driven startup ecosystem in India. “By leveraging Kyndryl’s global expertise and enterprise solutions, DPIIT aims to support startups in scaling their operations and driving technological advancements across industries,” he added.
On partnership with the YES Bank, he said, “India’s manufacturing and startup ecosystem is at a transformative juncture, and partnerships like this play a crucial role in driving innovation-led growth.
We are delighted to collaborate with YES BANK to offer emerging startups the right resources and opportunities to scale and thrive.”
