New Delhi: In a significant move to accelerate innovation and entrepreneurship, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has entered into a strategic partnership with ICICI Bank. The two entities signed a Memorandum of Understanding (MoU) aimed at extending comprehensive support to startups and innovators across the country.
Launch of a Dedicated Startup Engagement Programme
As part of this collaboration, ICICI Bank will design and roll out a tailor-made Startup Engagement Programme, which will be hosted on the Startup India portal. This programme is expected to become a core component of Startup India’s digital infrastructure, integrating with its outreach and visibility campaigns to ensure maximum awareness and participation.
DPIIT will facilitate ecosystem alignment through the Startup India initiative, offering ICICI Bank critical support in communication, programme promotion, and active linkage with DPIIT-recognised startups throughout India.
Access to ICICI Bank’s Accelerator and Mentorship Network
Selected startups participating in the programme will gain exclusive access to ICICI Bank’s accelerator facility in Mumbai, which includes:
- Dedicated co-working space
- A structured curriculum designed to build business acumen
- One-on-one mentorship from seasoned industry leaders
- Pilot project opportunities with ICICI Bank’s business units
These offerings are geared toward helping startups validate their product-market fit and enhance business development capabilities.
Broader Ecosystem Integration and Investor Access
The initiative goes beyond physical infrastructure, offering curated networking opportunities with:
- Venture capital firms and angel investors
- Corporate clients and potential partners
- Subject matter experts through domain-specific workshops
- Industry stakeholders via innovation showcases and demo days
This ecosystem support is designed to foster a robust environment where startups can grow, scale, and succeed.
Driving Innovation for a New India
The collaboration underlines a shared vision between DPIIT and ICICI Bank to nurture product-based startups and contribute meaningfully to India’s innovation-driven economy. The initiative targets both early-stage and growth-stage startups, providing them with a customised engagement roadmap that aids in refining products, scaling operations, and enhancing market readiness.
Leadership Remarks on the Collaboration
Speaking at the signing ceremony, Sanjiv, Joint Secretary at DPIIT, highlighted the importance of this partnership, stating:
“This collaboration with ICICI Bank is about creating lasting impact through meaningful engagement with startups. It opens up new channels of support for entrepreneurs working to transform India’s industrial and financial landscape through technology and innovation.“
About DPIIT
DPIIT stands for Department for Promotion of Industry and Internal Trade. It is a department within the Ministry of Commerce and Industry, Government of India. DPIIT is responsible for formulating and implementing policies and strategies to promote the growth of the industrial sector in India.
