Excelsior Correspondent
JAMMU, Jan 27: IIT Jammu and Jammu & Kashmir Bank have entered into a significant Memorandum of Understanding (MoU) to jointly nurture and cultivate a dynamic entrepreneurial ecosystem across Jammu & Kashmir.
The MoU signing ceremony was followed by a plantation drive at the IIT Jammu campus, launched jointly by Amitava Chatterjee, MD & CEO of J&K Bank, and Manoj Singh Gaur, Director of IIT Jammu. The partnership aims to support innovation, initiatives for startups and industry by providing them with valuable mentoring, attractive financing options, and access to the bank’s large customer base, facilitating their growth and scalability.
The long-term collaboration, which was formalized today, sets the stage for a vibrant ecosystem that will benefit the entrepreneurial landscape in Jammu & Kashmir. The partnership is designed to provide startups from IIT Jammu with the resources they need to thrive, including access to financial support, industry expertise, technical infrastructure and a robust network.
The bank intends to extend credit to startups from IIT Jammu on a case-by-case basis, especially those incubated under IIT Jammu’s incubators. Startups will be eligible for financing under various policies, with a focus on encouraging them to establish their operations in Jammu & Kashmir and contribute to local employment.
Both parties will collaborate on Startup awards and promotion events, share their expertise, and participate in each other’s investment committees.
By combining IIT Jammu’s technological expertise with the bank’s financial support and wide reach, the partnership is set to unlock new opportunities for startups and create a robust entrepreneurial ecosystem in Jammu & Kashmir.
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