ICICI Bank Launched 'iStartup 2.0', The Country's Most Comprehensive Program For The Startup Needs

• India's one of the top private sector bank ICICI Bank has launched 'iStartup 2.0', A comprehensive program for the startups to fulfill their startup needs.
• Under the 'iStartup 2.0' program startups will get regular assistance, analytics, staffing, accounting, customer acquisition, digital outreach to customers.
• ICICI Bank announced 'iStartup 2.0' on Thursday, September 10, 2020.

India's one of the top private sector bank ICICI Bank, On Thursday, September 10, launched 'iStartup 20', the country's most comprehensive program for the startups to fulfill their needs.

The program 'iStartup 2.0' will take care of banking as well as focus on providing regulatory assistance, analytics, staffing, accounting, customer acquisition, and digital outreach to the consumers, etc.

'iStartup 2.0', the most comprehensive program for the startups, offers a current account in three different variants --- Platinum, Gold, and Silver. These are the current account variants introduced for the startup with different needs other than the banking.

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Furthermore, startups and businesses (up to 10 years old) are eligible to opt for this program 'iStartup 2.0' to enjoy the benefits of the iStartup 2.0 program.

Startups can seamlessly open an account and get the account number instantly at the time of incorporation as the Bank has integrated its APIs with the website of the Ministry of Corporate Affairs (MCA).

It offers significant convenience to founders/entrepreneurs as it saves time and effort since they don’t have to fill details again to apply for an account. As a further convenience, the Bank sends an official to startups at a time of their choice to verify the original documents for KYC.

Startups and businesses who will opt for the program will get other benefits of current accounts including the availability of a dedicated Relationship Manager, premium savings account for promoters and salary accounts for employees, and waiver of quarterly average balance for a year.

Additionally, Bank will also be offering to customise the service they want under the 'iStartup 2.0' program.

Moreover, ICICI Bank introduced a new service 'Startup Assist' for the startups. Under this service, Bank and its associated partners will help the startups in their early stages as well as the growth stage.

With ‘Startup Assist’, they get the convenience of single-point access to a host of services. It consists of a ‘Set-up’ concierge, which gives them access to an array of experts at a discounted price to help the startup with complex services like company registration, taxation, compliance, logistics, facility management among others.

“The MSME & self-employed segment in India is the backbone of the economy. Within this, we foresee that the startup segment in the country is poised for rapid growth with favorable regulations in the ecosystem and the high spirit of entrepreneurship. We believe that ‘iStartup 2.0’ is the most comprehensive program available in the country." said, Mr. Pankaj Gadgil, Head- Self Employed Segment, ICICI Bank.

"It offers them unprecedented convenience of getting onboarded with us instantly in a digital manner during incorporation with MCA. It undertakes all business, trade, and personal banking requirements within this one relationship and transacts digitally using the robust mobile and internet banking platforms on-the-go," he added.

Here is the list of the beyond banking features that will be provided by the bank under the program:

• Start-up set up concierge: Bank will offer startups to get access to services like company registration, taxation, compliance, logistics, facility management among others through a dedicated concierge helpline or via an app or an email.
• Digital concierge: The bank will offer digital packages come with a host of benefits for ICICI Bank customers at an exclusive discounted price offered by a partner through a dedicated helpdesk & mobile app.
• Additional offers: Startups will get ICICI Bank leading accounting software, website hosting company, and cloud services among others. Further, they will also get exclusive packages for advertising with a leading online streaming network with complimentary additional advertising value.

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