India Institute of Management – Cozhikode Business Incubator Laboratory for Innovation and Entrepreneurship ‘(Live) and Bank India signed a memorandum of understanding the game (MoU) here on Thursday.
The ink agreement launched a startup funding scheme, ‘whiteboard’, to support the initial start-up stage by giving a loan of up to 50 crore, before Prof.
Debashis Chatterjee, Director of Iimk and Imran Amin Siddiqui, Executive Director of Bank India headquartered in Chennai.
The amount of loan disbursed to start under the Industrial Council scheme of IIMK Live and Indian Banks can be used to meet operational expenses and start-up capital expenditures that include working capital, purchasing fixed assets and other costs, IIM-K, an IIM-K statement It said here.
Start-up chosen based on this scheme must be done to work on innovation, development or increase in products or processes or services, or present a business model that can be scaled with the high potential of the generation of employment or wealth creation.
Safe! You have managed to throw your voteogin to see the MOU results signed by Prof.
Rajesh Upadhyayula, Executive Director, IIMK Live and B.
Vijaya, Zonal Manager, Indian Bank, Kozhikode Zone, he said.
Speaking on that occasion, Chatterjee, Director of IIMK & Chairperson of Iimk Live, told of a six-year trip business incubator and welcomed Indian Bank by saying ‘innovation and entrepreneurship’ was Bedrock where Iím-k had dared beyond traditional boundaries.
“The top two ranks in the prestigious government to provide debt funds for their incubate companies,” he said.
With this, Iim-K Live meets the important gap in the service portfolio given to begin in achieving their vision and the consequences of achieving our vision of 2047 – globalization of Indian thought, “he added.
Siddiqui, Executive Director of Bank India said beginners throughout the country can always raise pre-seed funds, seed funds, series A, B, C etc.
where they are, more often than not, forget about substantial equity to investors.
“As IIM-K Live as the center of incubator and entrepreneurship development, Indian Bank is proud to be associated with them in strengthening the initial ecosystem of our country,” he said.
IIM-K has business incubators and entrepreneurial development centers themselves – IIM-K Live, which was founded in 2016 with the support of the Department of Science and Technology.
The center is imagined to function as a business incubator with the aim of creating a national advantage center that promotes innovation, new business and entrepreneurship, the statement is added.