In a significant move to bolster India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with YES BANK. This collaboration aims 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. 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.
Speaking on the occasion, Joint Secretary, DPIIT, Shri 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.”
The MoU was signed by Director, DPIIT, Dr. Sumeet Jarangal and Zonal Head, YES BANK, Rohit Aneja, in the presence of senior officials from both organizations. This collaboration marks a significant step toward creating a robust and self-sustaining startup ecosystem in India.