Indian startups are forecast to contribute $1 trillion to the domestic economy and generate 50 million new jobs, by 2030, according to HSBC India. India’s startup ecosystem, the bank said, is among the most dynamic and fastest growing in the world.
As part of its Innovation Banking launch, HSBC India expects to allocate a total of $1bn in non-dilutive debt capital, in a significant scale up of its lending programme to startups across early to late stages. In addition, HSBC India already has a substantial balance sheet allocation for fund financing across Venture Capital and domestic Private equity funds. With the launch of Innovation Banking, the Bank aims to expand this offering, encompassing a broader range of funds and propositions.
The initiative will offer a range of banking and financing solutions tailored to support entrepreneurial businesses throughout their lifecycle, from seed to IPO, as well as their investors.