11 April 2024 – The Indian Institute of Technology Bombay’s (IIT Bombay) Society for Innovation and Entrepreneurship (SINE) and Canara Bank have partnered to provide startup finance, which is a major step towards strengthening the startup ecosystem. This partnership seeks to promote innovation and entrepreneurship in the nation by giving emerging business owners vital financial support.
Canara Bank has been actively involved in offering financial assistance to startups and MSMEs (Micro, Small, and Medium Enterprises) and is strongly committed to fostering innovation and entrepreneurship.
Thanks to this agreement, startups housed at SINE will now have access to customized banking services and financial solutions provided by Canara Bank. This covers credit facilities, loans, and other financial products made specifically to cater to the unique requirements of startups at various phases of their development.
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The Department of Science and Technology (DST)’s Head of Innovation and Entrepreneurship, Dr. Anita Gupta, praised the partnership, saying, “This partnership between SINE, IIT Bombay, and Canara Bank is a significant step towards empowering startups with the financial resources they need to scale and succeed.” With Canara Bank’s financial support and SINE’s experience in fostering innovation, this alliance is well-positioned to propel the nation’s economic growth and employment creation by igniting the next wave of entrepreneurial success stories.
