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States » SouthPosted at: Apr 2 2025 12:36AM


Kerala Startup Mission signs MoU with Kotak Mahindra Bank

Thiruvananthapuram, Apr 1 (UNI) 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.
As a part of the MoU, which focuses on startups in sectors such as agriculture, medical technology, electronics and space, Kotak Mahindra Bank and the state government owned 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.”
Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Limited.
The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on December 31, 2024, Kotak Mahindra Bank Ltd has a national footprint of 2,068 branches and 3,337 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai).
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Tags: #Kerala Startup Mission signs MoU with Kotak Mahindra Bank
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