IIT Kanpur, Yes Bank to provide grants to innovative startups

NEW DELHI: Indian Institute of Technology (IIT) Kanpur’s Startup Incubation and Innovation centre (SIIC) has collaborated with Yes Bank to encourage the growth of the startup-ecosystem in India.

The aim of this collaboration is for IIT Kanpur and Yes Bank to identify and provide financial support to startups that they deem innovative. The financial support will be provided by giving the startups access to grants. Startups can use these grants to obtain funding from a variety of sources. Yes Bank has a start-up focused programme called Yes Head-Startup. Startups can use this programme to gain access to the grants. Yes head-startup is a “full-service banking position for tech or tech-enabled startups”.

Dheeraj Sanghi, country head of branch banking and affluent banking at YES Bank said the selected startups will have “access to our digital infrastructure fueling innovation and partner in their growth”.

IIT Kanpur startup plan

The launch was attended by SIIC professor-in-charge Anushka Sharma, Vihsal Singh, zonal business head of retail banking at Yes bank. The two were the official signatories of the agreement. Speaking of the collaboration, Sharma said that, “this collaborative effort holds the potential for significant societal impact by generating employment opportunities, fostering economic growth, and driving technological advancements that can positively influence various sectors of the Indian economy”.

Apart from this, CEO of SIIC and cpe of AIIDE Nikhil Agrawal, COO and CFO, of SIIC, IIT Kanpur Piyush Mishra, zonal business head of affluent banking Himanshu Malik, and business head of retail trade and forex and retail CMS Sourabh Lodha, were also present at the launch.