Private lender HDFC Bank has signed an MoU the Enterprise Incubation Centre (EIC) at the Noida campus of the IIM-Lucknow

By VIRENDRA SINGH RAWAT

LUCKNOW, Dec 16 (The CONNECT) -Private lender HDFC Bank has signed an agreement with the Enterprise Incubation Centre (EIC) at the Noida campus of the Indian Institute of Management (IIM)-Lucknow to support start-ups.

The memorandum of understanding (MoU) is aimed at facilitating startups with mentoring, training, product acceleration and banking services. HDFC Bank will also evaluate funding to startups referred by the EIC for its SmartUp programme that aims to nurture entrepreneurs in the social landscape.

The Bank would provide the necessary bandwidth to the EIC supported StartUps. “Our endeavour is to create a strong entrepreneurship ecosystem in India,” Smita Bhagat, country head, government & institutional business ecommerce and startups at HDFC Bank, said.

“We are forging more such collaborations with premier institutes across the country. The Bank will aim to fulfil its commitment to support startups through its robust end-to-end banking solutions and offer value added services under SmartUp program for startups,” she noted.

Both the organisations will jointly work on synergies to support entrepreneurs and the startup ecosystem.

Under the MoU, the EIC would enrol potential startups and conduct programmes like accelerator, capacity building programs and workshops to support startups and entrepreneurs.

Besides, the EIC will support HDFC Bank to scout potential startups/ventures, where the bank may also decide to invest. The IIM Lucknow would provide access to its ongoing or future programmes focused on entrepreneurship.