Kerala Startup Mission Signs MoU with Kotak Mahindra Bank

THIRUVANANTHAPURAM:
In a significant partnership to strengthen the thriving startup ecosystem in Kerala, Kotak Mahindra Bank has signed a Memorandum of Understanding (MoU) with Kerala Startup Mission (KSUM), a nodal agency dedicated to fostering innovation and entrepreneurship under the Government of Kerala.

As a part of the MoU, which focuses on startups in sectors such as agriculture, medical technology, electronics and space, Kotak Mahindra Bank and KSUM will take a series of steps to nurture and grow the startup ecosystem in the state.

As a financial conglomerate, Kotak will offer startups financial expertise; organise master classes and advisory sessions on regulatory compliances, export earnings, and fundraising, in addition to bridging startups in Kerala with NRIs based in global markets through Kotak’s international offices located in Dubai, UK, and Singapore.

KSUM offers startups incubation, mentorship, funding assistance, capacity building programmes, resources to nurture and accelerate the growth of early-stage ventures, in addition to access to a network of investors, industry experts, and government initiatives aimed at developing a thriving startup ecosystem in the state.

Highlighting this initiative, KSUM CEO Anoop Ambika said “This partnership will provide the startups with financial resources and market linkages to scale up their business. The collaboration with a major financial institution like Kotak Mahindra Bank also reflects on the credibility of the state’s fast-flourishing startup ecosystem.”