Indian Bank Inks MoU with SRM University-AP to Lend up to 50 Crores for Start-ups

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 Indian Bank 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 Andhra Pradesh 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 startups. 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.