New Delhi, Aug 10 (KNN) IIITD Innovation and Incubation Centre (IIITD-IC), a section 8 company promoted by the Indraprastha Institute of Information Technology Delhi (IIITD), has signed a MoU with YES BANK.

This partnership will enable IIITD-IC to strengthen its mentoring initiatives for startups, gain access to experts across the industry.

It will also help the institute identify newer investment and funding opportunities that can benefit startups.

Through this partnership, YES BANK will offer best-in-class banking facilities to startups that are in a developmental phase at IIITD-IC under the Bank’s YES HeadStartup programme.

It is a dedicated programme for startups that aims to cater to this segment with a dynamic and agile bouquet of offerings. 

These include a salary account proposition for startups with only five employees, a fungible limit for credit cards for business and personal use, as well as an API Sandbox facility.

IIIT Delhi, Director, Professor Ranjan Bose said, “Through this partnership, we aim to enable enterprise banking, personal banking and beyond banking solutions required by the Startups and further strengthen the mentoring support for Startups, with their access to experts and the industry.”

“YES BANK has brought the bank to startups, adopting a horizontal approach and bundling up the most lucrative features possible. Our aim is to bridge the gap between startups and corporates with the right and in-time mentorship. This initiative will enable entrepreneurs with validation and market traction, along with the knowledge and skill required to thrive in this mushrooming economy,” he added.

This collaboration aims to ensure that the chosen startups perform better, generate revenues, register growth, and attract better talent.  (KNN Bureau)