Yes Bank partners with DPIIT to strengthen India's startup ecosystem

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Yes Bank, a private lender.

The partnership aims to foster innovation and provide crucial support to product startups, innovators, and entrepreneurs across the country.

Leverages DPIIT's Startup India initiative

The partnership will leverage DPIIT's Startup India initiative and Yes Bank's financial expertise to facilitate market linkages, funding access, mentorship, and infrastructure support for early-stage ventures.

The startups will benefit from Yes Bank's HeadStartup program, which offers tailored banking and financial solutions, including working capital, credit access, and cash flow management. Additionally, they will gain access to the bank's extensive network, strategic partnerships, and industry expertise, enabling them to scale operations and attract investments effectively.

Joint Secretary, DPIIT, Sanjiv, emphasized the significance of the collaboration, stating, "India's manufacturing and startup ecosystem is at a transformative juncture, and partnerships like this play a crucial role in driving innovation-led growth. We are delighted to collaborate with YES BANK to offer emerging startups the right resources and opportunities to scale and thrive."

Recent developments

DPIIT has also partnered with Kyndryl Solutions Pvt. Ltd. to boost innovation in the Indian startup landscape. The partnership aims to strengthen the country's manufacturing and IT ecosystems by offering mentorship, technological support, and access to large-scale enterprise solutions.