The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a Memorandum of Understanding (MoU) with Yes Bank, a private financial institution. This collaboration is designed to promote innovation and provide essential support to product startups, innovators, and entrepreneurs throughout the nation.
The initiative will utilize DPIIT’s Startup India program alongside Yes Bank’s financial capabilities to enhance market connections, improve access to funding, offer mentorship, and provide infrastructure support for early-stage businesses.
Startups will benefit from Yes Bank’s HeadStartup program, which delivers customized banking and financial services, such as working capital, credit options, and cash flow management. Furthermore, they will have access to the bank’s vast network, strategic alliances, and industry knowledge, which will help them grow their operations and attract investments more effectively.
Joint Secretary, DPIIT, Sanjiv, emphasized the significance of the collaboration, stating, “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.”
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