IDFC FIRST Bank, NASSCOM COE partner to grow the innovation ecosystem

IDFC FIRST Bank and NASSCOM Centre of Excellence (COE) have joined to expand the innovation ecosystem. At a gathering of start-up entrepreneurs in Bangalore, a Memorandum of Understanding (MoU) was signed designating IDFC FIRST Bank as a preferred banking partner for start-ups.

In addition to a zero-balance start-up current account, specially created working capital solutions for pre-profit start-ups, business credit cards for start-ups with step-up credit, a tailored "Founder Success Program," and 40 beyond banking offers from its partners, IDFC FIRST Bank will provide its curated products and solutions for start-ups.

While IDFC FIRST Bank will provide specialised financial instruments to encourage innovation and entrepreneurship, NASSCOM CoE will provide technology and subject experience to the partnership. In order to deeply interact with the start-up ecosystem, NASSCOM COE and IDFC FIRST Bank will work together on a variety of activities, including Investor Connect, Knowledge Sharing Sessions, and Tech Conclaves.

Start-ups have stimulated innovation, employment, and commercial vitality in India. As a bank, IDFC is dedicated to building a robust environment that helps early-stage entrepreneurs to get ready for the road ahead and supports them in hitting important milestones. Under FIRST Wings Start-up Banking, IDFC provide a variety of financial solutions that are tailored to the requirements of this market throughout their lifecycles. IDFC is excited to work with NASSCOM COE to maximise synergies and support start-up ecosystem, said Mr. Bhavesh K Jatania, Head - Start-up Banking, IDFC FIRST Bank

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.