Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) Innovation and Incubation Centre (IIITD-IC), a section eight company promoted by the IIITD, has signed a Memorandum of Understanding (MoU) with YES BANK. The partnership aims to enable IIITD-IC to strengthen its mentoring initiatives for startups, gain access to experts across the industry, as well as identify newer investment and funding opportunities that can benefit startups, according to an official release.
In this collaboration, YES BANK aims to provide banking services to startups in the developmental phase at IIITD-IC through the Bank’s specialised YES HeadStartup programme. This programme is tailored to meet the needs of startups, providing them with a versatile and flexible range of benefits. These offerings encompass a salary account solution designed for startups with as few as five employees, a versatile credit card limit that can be used for both business and personal expenses, along with the added advantage of an API Sandbox facility.
“Through this partnership, we aim to enable enterprise banking, personal banking and beyond banking solutions required by the Startups and further strengthen the mentoring support for Startups, with their access to experts and the industry. YES BANK has brought the bank to Startups, adopting a horizontal approach and bundling up the most lucrative features possible. Our aim is to bridge the gap between Startups and the corporates with right and in-time mentorship,” Ranjan Bose, director, IIIT Delhi, said.
This collaboration further aims to enhance chosen startups’ performance, revenue, growth and talent attraction. Joint efforts provide access to networks, partners and resources for scaling. Alongside IIITD-IC support, domain-specific mentors offer financial and business expertise. Angel investors and VCs gain access to improved Startups. Industry guidance aids growth and decision-making, expanding networks for new opportunities and partnerships, as per the release.