HDFC Bank Inked An MoU With i-Hub To Support Student Startups & Innovations: Check Report

HDFC Bank, India's largest private-sector bank, has inked a memorandum of understanding (MoU) with i-Hub (Gujarat Student Start-up and Innovation Hub), a Gujarat government-supported centre that facilitates student start-ups and innovations. i-Hub, which is located in Ahmedabad, Gujarat is a catalyst to boost the start-up ecosystem in the state by supporting the entrepreneurial spirit of the youth, according to the bank. As a part of the collaboration, the private lender will provide end-to-end banking solutions and mentorship to the start-ups incubated at i-Hub.

The MoU was signed by Mr. Pinal Shah, Regional Head - Gujarat, HDFC Bank, and Mr. Hiranmay Mahanta, CEO, iHub, on August 12, at HDFC Bank House in Navrangpura, Ahmedabad, according to the official report. HDFC Bank has said in its press release that "i-Hub is the fourth start-up incubator in Gujarat to sign an MoU with HDFC Bank. In the recent past, the bank has collaborated with SASTRA, an incubator for defence and security start-ups affiliated with Raksha Shakti University (RSU), Gandhinagar; GUSEC (Gujarat University Startup and Entrepreneurship Council) affiliated with the state-owned, Gujarat University; and the NDBI (National Design Business Incubator), which is attached to the National Institute of Design (NID), Ahmedabad."

Mr. Thomson Jose, Branch Banking Head - Gujarat, HDFC Bank said, "The collaboration with i-Hub is yet another step forward in the Bank's journey of supporting start-ups in the state. We want to be partners in growth for the incubators as well as the incubated start-ups, by offering them end-to-end banking solutions and mentorship."

About the partnership with HDFC Bank, Mr. Hiranmay Mahanta, CEO of i-Hub, stated that "i-Hub is a vibrant incubation setup established under Student Startup and Innovation Policy by the Education Department, Government of Gujarat and its collaboration with India's largest private sector bank will enable budding entrepreneurs to leverage the dynamic and robust banking solutions offered by HDFC Bank. This is a step forward in supporting breakthrough innovations in various sectors e-mobility, clean waste management solutions, clean energy, Ed Tech, among various others," according to the press release of the bank.

Via its official Twitter handle, HDFC Bank has also declared that "HDFC_Bank signed an MoU with @ihubgujarat to support student startups & innovations with mentorship & end to end banking solutions."

To support startups in Bhubaneswar, HDFC Bank has also today signed an MoU with C. V. Raman Global University, Odisha. The lender has declared through its Twitter account that "HDFC_Bank signed an MoU with @CguOdisha (AIC-CGU) to support startups in Bhubaneswar and provide banking solutions, mentorship, and other value-added initiatives. They also inaugurated an ATM at the university campus."