IIM Jammu signs deal with Yes Bank to promote entrepreneurship in Kashmir

NEW DELHI: The Indian Institute of Management Jammu (IIM Jammu) has signed a deal with Yes Bank to encourage innovation and entrepreneurship in Jammu and Kashmir. The collaboration aims to promote an ecosystem for innovation and entrepreneurship for areas such as agribusiness, IT, ITeS, sustainability, and urban technology.

The agreement between IIM Jammu and Yes Bank focuses on promoting entrepreneurial activities, knowledge exchange, and curated banking solutions for startups incubated at the institute, the press release read. The partnership also aims to drive innovation and encourage a sustainable entrepreneurial ecosystem in Jammu and Kashmir, the institute said.

The agreement between the two was signed on December 27 at the Centre for Entrepreneurship, Innovation and Skill Development (CEISD), Jagti campus, IIM Jammu.

The institute further said that the agreement emphasises on key areas of collaboration, including knowledge advisory support for preparing feasibility and detailed project reports to establish or upgrade incubation centers and laboratories, with the goal of securing government funding and support.

Yes Bank will also provide mentorship and advisory support to startups incubated at IIM Jammu, conducting workshops and sessions tailored to various entrepreneurial domains, the institute added.

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The partnership emphasizes ecosystem connect and outreach by assisting in validating potential use cases and market linkages for innovative ideas and technologies and the agreement also includes the organization of knowledge sessions on mutually agreed topics to strengthen the innovation ecosystem, the institute further added.

The agreement also outlines curated banking and digital product offerings, enabling Yes Bank to evaluate and support startups with transaction and digital banking products, enhancing their financial capabilities and promoting growth, it said.

This partnership signifies a joint effort to drive innovation and create a sustainable entrepreneurial ecosystem in Jammu and Kashmir.

The agreement was signed in the presence of key representatives from both sides including BS Sahay, director, IIM Jammu; Muqbil Burhan, chairperson, centre for entrepreneurship and innovation, Kesavan Baskkaran, chief administrative officer, IIM Jammu; Vivek Sharma, chief innovation officer, IIM Jammu; Ankush Varma, chief innovation officer, IIM Jammu; (Srinagar Campus); Rajat Sood, regional segment head, government banking, Yes Bank; Jagdeep Jaggi, AVP, government banking, Yes Bank; Sumer Pachnanda, senior manager, government banking, Yes Bank.