Mumbai: In a strategic initiative to bolster India’s dynamic startup ecosystem, IndusInd Bank has signed a Memorandum of Understanding (MoU) with the IIM Lucknow Enterprise Incubation Centre (IIML-EIC).
The collaboration aims to provide a robust blend of customized banking services and innovation-driven support to empower early-stage and growth-stage startups across sectors.
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The partnership between IndusInd Bank and IIM Lucknow Enterprise Incubation Centre marks a significant step in building a comprehensive “banking and beyond banking” model to enable startups to scale effectively, attract investments, and contribute meaningfully to India’s economic growth.
Integrated Banking and Innovation Solutions for Startups
As part of the MoU, startups incubated at IIML-EIC will benefit from:
- Tailored banking solutions including cash management, working capital financing, and credit support
- Access to IndusInd Bank’s strategic ecosystem for enhanced visibility and investor outreach
- Exclusive operational support services such as payroll management and attendance systems
Additionally, the bank will conduct financial literacy workshops and knowledge sessions on topics critical to startup success – including equity structuring, ESOP taxation, banking essentials, and segment-specific funding strategies.
IIM Lucknow Enterprise Incubation Centre: Fostering Innovation Through Strategic Collaboration
The agreement also opens the door for co-sponsorship of startup seminars, pitch events, and entrepreneurship conclaves hosted by IIML-EIC.
The incubation centre will facilitate connections between its portfolio startups and IndusInd Bank, ensuring seamless access to financial resources and advisory support.
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“This partnership reinforces our commitment to empowering India’s startup ecosystem with not just financial tools, but with knowledge, access, and strategic connections,” said a senior official at IndusInd Bank.
By combining the entrepreneurial ecosystem at IIM Lucknow Enterprise Incubation Centre with IndusInd Bank’s financial expertise, the MoU aims to build a new generation of startups that are innovation-driven, investment-ready, and financially resilient.
