DPIIT, ICICI Bank join hands to boost startup ecosystem in India

THEBUSINESSBYTES BUREAU

NEW DELHI, SEPTEMBER 4, 2025

In a major push to strengthen India’s startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, today signed a Memorandum of Understanding (MoU) with ICICI Bank Limited. The collaboration aims to provide comprehensive support to DPIIT-recognised startups through access to accelerator programmes, structured mentorship, and business development opportunities.

Under the MoU, ICICI Bank will design and roll out a Startup Engagement Programme, which will be hosted on the Startup India portal and seamlessly integrated with its wider outreach and visibility initiatives. Startup India will amplify communication, manage programme visibility, and connect ICICI Bank with promising startups across the country.

The initiative will offer selected startups access to ICICI Bank’s state-of-the-art Mumbai-based accelerator facility, complete with dedicated workspaces. Startups will benefit from a structured curriculum, mentorship by seasoned industry leaders, and opportunities to run pilot projects with ICICI Bank business units to validate product-market fit. They will also gain exposure to potential investors, venture capitalists, and corporate clients through networking sessions, industry workshops, and innovation showcases.

The partnership is particularly focused on nurturing product-based startups, helping them refine offerings, enhance operational scalability, and accelerate growth. By leveraging ICICI Bank’s resources and Startup India’s national platform, the collaboration seeks to create an enabling environment where early- and growth-stage entrepreneurs can thrive.

Speaking at the signing, Sanjiv, Joint Secretary, DPIIT, said, “This partnership with ICICI Bank is about creating lasting impact through meaningful engagement with startups. It opens up new channels of support for early- and growth-stage entrepreneurs who are working to transform India’s industrial and financial landscape through technology and innovation.”

ICICI Bank, one of India’s leading private sector banks, had total assets of ₹21,23,839 crore as on June 30, 2025. With this collaboration, the Bank seeks to expand its role in fostering India’s innovation ecosystem while supporting the government’s vision of making India a global hub for startups and entrepreneurship.