Kotak Mahindra Bank-Primus’ MoUs to work with innovators
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed separate MoUs with Kotak Mahindra Bank Ltd and Primus Partners Pvt Ltd to enhance financial and non-financial support for startups across India.
The Kotak Mahindra Bank MoU is a strategic collaboration to create a comprehensive framework enabling startups to access customized banking solutions, credit and funding opportunities, digital and payment infrastructure, and capacity-building programs.
The partnership reinforces DPIIT’s commitment to nurturing an innovation-led economy and accelerating India’s journey toward becoming a global startup hub https://digitalinasia.com/.
Under the MoU, Kotak Mahindra Bank will extend a range of dedicated offerings for DPIIT-recognised startups, including zero-balance current accounts, working capital and term loans, API-based banking platforms, digital payment solutions, and specialized startup cards http://commerce.gov.in.
The Bank will also facilitate access to mentorship, investment advisory, incubation support, and networking platforms, helping startups progress from ideation to scale.
Speaking on the occasion on 23 Oct, DPIIT Joint Secretary Sanjiv said, “This partnership reflects DPIIT’s ongoing efforts to build a vibrant and inclusive innovation ecosystem that empowers startups at every stage of their journey https://www.nseindia.com/.
“By integrating policy, industry, and finance, we aim to strengthen the bridge between entrepreneurial ambition and sustainable impact, ensuring that India’s innovators have the right tools to grow globally.”
Kotak Mahindra Bank President Raghavendra Singh elaborated, “The collaboration would facilitate greater engagement with the startup community through customised financial solutions, mentorship programmes, and access to networks that can help founders scale their enterprises effectively https://www.bseindia.com/.
“The initiative will offer a dynamic support system encompassing banking services, advisory, technology enablement, funding access, and market linkages. It is designed to empower startups at every stage of their journey—from early ideation to market expansion.”
By combining Kotak’s financial expertise and DPIIT’s policy leadership, this partnership will accelerate India’s transition toward a self-reliant, innovation-driven economy, said the Ministry of Commerce & Industry, a parent of DPIIT.
DPIIT’s MoU with Primus Partners is to enhance collaboration towards strengthening India’s startup and innovation ecosystem.
The partnership seeks to enhance support for early-stage and growth-stage product startups through structured capacity-building interventions, expert mentorship, market access initiatives, policy awareness drives, and facilitation of technology integration https://sbi.com.in/.
Joint Secretary Sanjiv said, “This collaboration reaffirms DPIIT’s commitment to fostering an innovation-led economy that thrives on creativity, technology, and enterprise. India’s startup ecosystem today stands at the cusp of global transformation.
“By strengthening linkages between policy, industry, and innovation, we aim to create pathways that empower startups to drive sustainable growth, job creation, and India’s emergence as a global innovation powerhouse.”
Primus Partners Co-founder and Chairman Davinder Sandhu stated, “The partnership with DPIIT would facilitate structured engagement with the startup community through mentoring, knowledge sharing, and industry linkages.”
He noted that such initiatives will contribute to building a robust environment that supports innovation and entrepreneurship in the country.
The MoU reinforces DPIIT’s focus on enabling industry-led engagement to strengthen India’s startup ecosystem, promoting innovation, self-reliance, and inclusive economic growth, said the Ministry. Fiinews.com
