IIMB and Indian Bank ink MoU to provide debt capital for start-ups

NSRCEL, the entrepreneurship centre of excellence at Indian Institute of Management Bangalore, has signed an agreement with Indian Bank aimed at facilitating funding for identified start-ups under Indian Bank’s ‘Ind Spring Board’ scheme. The funding will help these start-ups meet their working capital requirements for growth.

NSRCEL incubates early-stage companies which demonstrate the potential to innovate, implement and create social/ financial impact.

A Memorandum of Understanding (MoU) was signed between Professor Rishikesha T Krishnan, Director of IIM Bangalore, Padmaja Chunduru, MD & CEO, Indian Bank, and K.S. Sudhakar Rao, General Manager (MSME), Indian Bank, on August 6th.