indian bank: IIM-K LIVE & Indian Bank ink a game-changing MoU

The Indian Institute of Management – Kozhikode’s Business incubator ‘Laboratory for Innovation Venturing and Entrepreneurship’ (LIVE) and Indian Bank signed a game-changing Memorandum of Understanding (MoU) here on Thursday. The inked agreement launched a startup funding scheme, ‘IndSpring Board’, to support early stage start-ups by providing loans up to Rs 50 crore, in the presence of Prof. Debashis Chatterjee, Director IIMK and Imran Amin Siddiqui, Executive Director of the Chennai-Headquartered Indian Bank.

The loan amount disbursed to start-ups under the IndSpring Board scheme from IIMK LIVE and Indian Bank can be used to meet a start-up’s operational expenditure and capital expenditure which includes working capital, purchase of fixed assets and other expenses, an IIM-K statement said here.

Start-ups selected under this scheme would have to be committed towards working on…

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