IIT Kanpur’s SIIC signs MoU with Indian Bank to support innovative startups


  • SIIC and Indian Bank have joined hands to extend financial support to the selected startups through an MoU

  • SIIC and Indian Bank will work together to identify and support startups under the “Ind Spring Board (Finance for Startups)” scheme under the MoU

Kanpur, February 17, 2023: IIT Kanpur’s technology business incubation centre, Startup Incubation and Innovation Centre (SIIC), has exchanged a memorandum of understanding (MoU) with the Indian Bank.

The MoU was signed at SIIC in IIT Kanpur’s campus in the presence of dignitaries from SIIC and the Indian Bank. Prof. Ankush Sharma, Professor-in-charge, Innovation & Incubation, IIT Kanpur and Mr. Vivek, Zonal Manager, Indian Bank, Kanpur, were the signing authorities, Mr. Piyush Mishra, COO, SIIC, CS Yogi Srivastava, General Manager, Company Secretary, SIIC, Mr. Saurav Jain, MAPC Head, Indian Bank, Kanpur, CA Prashant Shrivastava, Chief Manager Credit, Zonal Office, Indian Bank, Kanpur, and Mr. Pankaj Kumar Singh, Branch Manager, Indian Bank, Kalyanpur were present during the event.

The two bodies 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 & 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.”

Mr. 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.”

The parties engaged in an in-depth discussion about the incubation model and the diverse startup portfolio at SIIC. The dignitaries also spoke about deploying a mechanism to facilitate the exchange of startups working towards building disruptive technology solutions.

About SIIC

Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, is one of the oldest incubators in the country. It was established in 2000 when the entrepreneurial ecosystem was still at a nascent stage in India. The multifaceted and vibrant incubation ecosystem at IIT Kanpur, nurtured for over two decades, prospers to fill the gaps on the road to converting an idea into a successful and meaningful business model. The domain expertise combined with the infrastructural prowess of the academic institute has collectively demonstrated a knack for tremendous social impact and technological advancement.

Website: https://siicincubator.com/
Linked: https://www.linkedin.com/company/incubatoriitk/
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Twitter: https://twitter.com/IncubatorIITK

About IIT Kanpur:

Indian Institute of Technology (IIT) Kanpur was established on 2nd November 1959 by an Act of Parliament. The institute has a sprawling campus spread over 1055 acres with large pool of academic and research resources spanning across 19 departments, 22 centres, and 3 Interdisciplinary programs in engineering, science, design, humanities, and management disciplines with 540 full-time faculty members and approximately 9000 students. In addition to formal undergraduate and postgraduate courses, the institute has been active in research and development in areas of value to both industry and government.

For more information, visit https://www.iitk.ac.in.



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