IIT Kanpur develops India's First Hypervelocity Expansion Tunnel Test FacilityIIT Kanpur

Virendra Singh Rawat / Lucknow

Indian Institute of Technology (IIT), Kanpur has partnered with Indian Bank to support innovative startups by providing mentoring and funding ecosystem.

IIT Kanpur’s technology business incubation centre Startup Incubation and Innovation Centre (SIIC) exchanged a memorandum of understanding (MoU) with the Bank.

The two insitutions will work together to identify innovative startups and extend financial support under the ‘Ind Spring Board (Finance for Startups)’ scheme of Indian Bank.

Ankush Sharma, Professor-in-Charge, Innovation & Incubation, IIT Kanpur, said, “SIIC has a standard process of identifying promising startups with high-impact potential. This collaboration will enable us to extend critical support to emerging Indian startups that will enable them to scale and accelerate their product development journey.”

Vivek, Zonal Manager, Indian Bank, Kanpur, added, “As a key stakeholder in the finance industry, we are proud to be supporting the modern Indian vision for an inclusive financial ecosystem nationally through this collaboration with SIIC. It is indeed inspiring to understand how innovations refine the user experience for a better and self-sustainable nation.”

SIIC, one of the oldest incubators in India, was established in 2000 when the entrepreneurial ecosystem was at a nascent stage in India.

According to IIT Kanpur, the campus’ vibrant incubation ecosystem prospers to fill in the gaps on the road to converting an idea into a successful and meaningful business model. “The domain expertise combined with the infrastructural prowess of the academic institute has collectively demonstrated a knack for tremendous social impact and technological advancement.”

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The Institute has been at the forefront of promoting startups belonging to differnet economic and business domains.

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