Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, signed an MoU with ICICI Bank (Sept 2025), to support startups and innovators through a structured Startup Engagement Programme. The programme will be launched on the Startup India portal, integrated with DPIIT’s outreach initiatives. This agreement strengthens India’s Startup India mission, ensuring wider access to mentorship, accelerator support, pilot opportunities, and funding linkages.
Key Highlights of MoU
Startup Engagement Programme:
- Designed and hosted by ICICI Bank on the Startup India portal.
- Integrated with Startup India’s communication and outreach.
- DPIIT’s role: Amplify awareness, ensure connection with DPIIT-recognised startups.
Support for Startups via ICICI Bank Accelerator
- Location: Mumbai-based accelerator facility.
- Facilities Provided:
- Dedicated workspace for selected startups.
- Structured curriculum + mentorship from industry leaders.
- Pilot programme opportunities with ICICI Bank’s business units for product-market validation.
- Networking access: venture capital firms, investors, potential clients.
- Workshops & showcases: industry-specific innovation exhibitions.
Guiding Early & Growth-Stage Entrepreneurs
- Target: Product-based startups, early-stage, and growth-stage innovators.
- Support Provided:
- Access to accelerator programmes.
- Business development and product refinement.
- Operational scale-up opportunities.
- Goal: To create lasting impact by opening new channels of engagement between startups and the financial ecosystem.
Institutional Profiles
DPIIT
- Full Form: Department for Promotion of Industry and Internal Trade.
- Parent Ministry: Ministry of Commerce and Industry.
- Key Role: Implements Startup India initiative (launched 2016), industrial policy, FDI promotion, and intellectual property rights (IPR) policy.
Startup India
- Launch Date: 16 January 2016.
- Objectives:
- Foster entrepreneurship, innovation, and job creation.
- Provide DPIIT-recognition benefits: tax exemptions, faster IPR filing, easier funding access.
- Portal: Startup India portal hosts resources, recognition, and support schemes.
ICICI Bank
- Incorporated: 1994 (as ICICI Bank Ltd.).
- Type: Leading private sector bank in India.
- Assets: ₹21,23,839 crore (as on June 30, 2025).
- Stock Listings: BSE, NSE (Ticker: ICICIBANK), NYSE (Ticker: IBN).
- Other Initiatives: Active in digital banking, fintech partnerships, and startup funding.
Key Facts
- Startup India Hub: Central platform to connect startups, investors, mentors, and government bodies.
- Startup Ranking of States: DPIIT releases rankings to encourage state-level startup ecosystems.
- Other Government Startup Support Schemes:
- Fund of Funds for Startups (FFS) managed by SIDBI.
- Startup India Seed Fund Scheme (SISFS) – supports proof of concept and market entry.
- Credit Guarantee Scheme for Startups (CGSS).
- India’s Startup Ecosystem:
- India = 3rd largest startup ecosystem in the world (after US & China).
- Over 1.3 lakh DPIIT-recognised startups (as of 2025).
- ICICI Accelerator Context: Private sector banks like ICICI, HDFC, and SBI have set up accelerator programmes to integrate fintech and tech-based solutions into financial services.
Significance of MoU
- Enhances financial ecosystem linkages for startups.
- Provides structured accelerator support from a private sector bank.
- Deepens the role of private institutions in Startup India beyond funding, extending into mentoring, market validation, and networking.
- Boosts India’s vision of becoming a global hub for innovation & entrepreneurship.