IndusInd Bank has signed a Memorandum of Understanding (MoU)
with the Enterprise Incubation Centre at Indian Institute of Management Lucknow (IIML-EIC) to empower startups through a combination of customized financial and innovation-led support solutions.
The MoU is a significant step towards encouraging a robust 'banking and beyond banking' ecosystem, promoting innovation and sustainable growth for startups across sectors and stages. It reflects IndusInd Bank's ongoing commitment to bolster the startup ecosystem and support their growing contribution to the Indian economy.
The MoU aims to support Indian startups across various stages and sectors by providing access to customized banking solutions, including cash management services, working capital support, and credit facilities—enabling them to manage their financial operations with greater efficiency. In addition, startups will gain exclusive access to IndusInd Bank's extensive network and strategic ecosystem partnerships, helping them enhance visibility, attract investments, and concentrate on innovation and scalable growth.
As part of the collaboration, IndusInd Bank will conduct a series of workshops and knowledge sessions to build startup capabilities across key financial areas. These sessions will cover Basics of banking, Equity infusion, ESOP implications, Segment-based funding etc. Additionally, the
Bank will offer operational support such as payroll and attendance management solutions to start ups as a part of the MoU.
The Bank will also facilitate co-sponsorship opportunities for startup-focused seminars and conclaves organized by IIML-EIC. The incubation centre will play a facilitative role by connecting startups to the Bank, sharing relevant details, and helping bridge access to the full range of
services.