Startup Funding
HDFC Bank signs MoU with Govt of Karnataka to aid startups registered with Karnataka Startup Cell
Bengaluru/IBNS: HDFC Bank Friday signed a Memorandum of Understanding (MoU) with the Karnataka government's Karnataka Innovation and Technology Society (KITS).
As per the MoU, HDFC Bank is to provide banking and financial services to startups registered with ‘Karnataka Startup Cell’ under HDFC Bank’s ‘SmartUp Program.’
The MoU was signed at the 25th edition of the Bengaluru Tech Summit.
KITS MD Meena Nagaraj C N and HDFC Bank's Branch Banking Head South Ahmed Zackaria signed the MoU in the presence of other state government officials.
HDFC Bank's Zonal Head Branch Banking Rajnish Barua and Startup Vertical Head Mithun John were also present.
‘SmartUp Program’ is HDFC Bank’s flagship initiative to promote the start-up ecosystem in the country, according to a press release by HDFC Bank.
The program aims to assist start-ups in achieving their goals through the bank’s well-renowned and highly advanced smart financial tools.
The program is also in line with the Government of India’s ‘Startup India’ initiative.
The Bank has been closely associated with KITS and is now glad to formalize the partnership through this MoU.
HDFC bank has been a key banking partner to the winning startups at Karnataka Government’s flagship startup event, Elevate, for the last 3 years, the release said.
The bank has organised multiple angel investment workshops to build awareness in partnership with KITS with the most recent one being held earlier this month.
HDFC Bank's Branch Banking Head South Ahmed Zackaria said, “HDFC Bank is committed to nation-building and it is our endeavor to support the start-up ecosystem in the country. The SmartUp Program is our sincere effort to provide complete end-to-end support to startups in achieving their goals and growing big. We are excited to join hands with KITS in facilitating startups with a comprehensive solution for their banking needs. Together, we hope to continue our objective of promoting the startup ecosystem in the country.”
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