Indian Bank inks MoU with SRM University in Andhra to lend up to Rs 50 cr


  Inks MoU with SRM University-AP to Lend up to 50 Crores for Start-ups Andhra Pradesh, India (NewsVoir) has collaborated with Hatchlab Research Centre, TBI of SRM University-AP to launch ‘IND Spring Board’, an initiative for financing start-ups and MSMEs.

The bank will extend loans of up to Rs. 50 crore to start-ups incubated at SRM Hatchlab for their working capital requirements or purchase of machinery and equipment.

This collaboration is one of its kind in the state of . Introducing the ventures at Hatchlab Research Centre, which will be availing of the Ind Spring Board scheme, Mr. Udayan Bakshi, Associate Director – Entrepreneurship, Department of Entrepreneurship and Innovation, highlighted the successful student ventures from SRM University-AP that has crossed 1Cr turnover.

SRM AP actively engage in business through the local community.

This collaboration will further strengthen the MSME sector, stated University Registrar Dr. R Premkumar, signing the MoU.

Speaking on the occasion, Sri N K Sharma GM – MSME expressed his delight in collaborating with SRM University-AP along with other premier institutes like IITs and IIMs across the country.

Sri C D Ramarao – Zonal Manager, Indian Bank, Guntur, described the genesis of the Ind Spring Board project and said has a start-up-friendly ecosystem to nurture innovations.

Hatchlab Research Centre – the technology and livelihood business incubator of SRM University-AP facilitates the incubation of student . 10,000+ sq. ft., state-of-the-art incubator space and Seed Funding are provided to eligible student ventures.

40+ student startups, 200+ industry mentors, and $120,000 angel investment are peculiar to the conducive entrepreneurial environment of SRM University-AP.

The alum entrepreneurial venture Oureye.ai received an additional investment of $50,0000. Integrating global vision and grassroots connect, the entrepreneurship-based clubs and activities like Socio Impacto, Explorer Hive, Saurvi, Research Clan, etc., are vital elements of SRM E-cell.

The university further promotes student-run labs such as Next-Tech Lab and Ennovab, where students share their ideas to curate those into applications that benefit society. Jaya Prakash Narayana – Head of International Collaboration & PR – Hatchlab Research Centre, Sri C Jagan Mohan Rao – Deputy Zonal Manager, Sri Raghavendra – Senior Manager, Sri Satya Dev-Branch Manager and Sri M S Sagar – Chief Manager were also present on the occasion. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)



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