IIT-Kanpur’s technology business incubation centre – Startup Incubation and Innovation Centre (SIIC) – has exchanged a memorandum of understanding (MoU) with the Indian Bank here on Friday.
The MoU was signed at SIIC in IIT Kanpur’s campus in the presence of dignitaries from SIIC and the Indian Bank, an official statement from IIT K said. Prof Ankush Sharma, Professor-in-charge, Innovation and Incubation, IIT Kanpur and Vivek, Zonal Manager, Indian Bank, Kanpur, were the signing authorities.
They will work together to identify innovative startups and extend financial support under the “Ind Spring Board’ (Finance for Startups) scheme of the Indian Bank. The two parties further discussed the framework for identifying the startups for this collective effort.
Prof Ankush Sharma, Professor-in-Charge, Innovation and Incubation, IIT-Kanpur, was quoted saying, “SIIC has a standard process of identifying promising startups with high-impact potential. This collaboration with Indian Bank will enable us to extend critical support to emerging Indian startups that will enable them to scale and accelerate their product development journey.”
Vivek, Zonal Manager, Indian Bank, Kanpur, added, “As a key stakeholder in the finance industry, we are proud to be supporting the modern Indian vision for an inclusive financial ecosystem nationally through this collaboration with SIIC. It is indeed inspiring to understand how innovations refine the user experience for a better and self-sustainable nation.”