IIM Kozhikode Collaborates with Indian Bank to Support Start-Ups

IIM Kozhikode; Laboratory for Innovation Venturing and Entrepreneurship (LIVE) has recently collaborated with the Indian Bank to extend support to startups in our country by granting loans upto Rupees Fifty Crores. An MoU has been signed by both the institutes, and a scheme named "IndSpring Board" has been launched to help startups in flourishing and meet their fund requirements. IIM-K and Imran Amin Siddiqui, Indian Bank (Executive Director; Chennai), and Professor Debashis Chatterjee, marked their presence while signing the MoU.

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According to this scheme, both Indian Bank and IIM-K LIVE will disburse a specific loan amount to various start-ups to meet their capital and operational expenditure including the purchase of fixed assets, working capital, and other related expenses. The loan will be provided to startups who are engaged in processes or services, innovation, large-scale enterprises with a high scope of wealth creation and generation of enormous employment opportunities.

While signing the MoU, Professor Chatterjee told about his marvelous experience of six years. He stated that Entrepreneurship and Innovation have allowed IIM Kozhikode to experiment and grow wonderfully in recent years. He added that we are constantly working on achieving good industrial culture by helping the startups grow more in the field of Innovation and Entrepreneurship.

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