Pilani, 13^th April, 2023.

IDFC FIRST Bank and Pilani Innovation & Entrepreneurship Development Society have signed a Memorandum of Understanding (MOU) to support start-upsand the start-up ecosystem in Pilani, Rajasthan. Pilani Innovation and Entrepreneurship Development Society (PIEDS) is the Technology Business Incubator of BITS Pilani. It has been instrumental in defining and supporting an ecosystem for innovation, commercialization, and entrepreneurship at the Pilani Campus.

PIEDShas supported more than 200+ Startups in their quest to solve most critical business and societal problems. Itwas set up in 2004 with the help of Department of Science and Technology, Government of India, and is supported through various ministries, corporates, and BITS alumni. 

IDFC FIRST Bankunder its First Wings startup banking programme is designed to power the startup ecosystem by offering solutions that complement their inclination to innovation, technology and aggressive growth through life stages.The Bank offers its curated products and solutions tostart-ups including fully loaded Zero Balance Start-up current account, uniquely designed working capital solutions for pre-profit startups, business credit cards for startups with step-up credit and 80+ Beyond Banking offers from its partners.The bank’s special Founder's Success Program “LeapToUnicorn” offers knowledge series, masterclasses and networking sessions to startups and contribute to their success story.

“We believe that IDFC FIRST Bank is quite active in the startup space and we are excited to partner with them. Banking is no longer a support function for Startups, and we are delighted to see IDFC FIRST Bank’s customized value proposition being extended to our Startups through this MOU. We look forward to engaging closely with the bank to further our goal of helping Startups in Rajasthan and across India.” said Sachin Arya, Head,Pilani Innovation & Entrepreneurship Development Society.

“Startups are the engine of economic growth, and the bank is proud to play a role in helping them achieve their full potential. This partnership is a testament to IDFC FIRST Bank's commitment in supporting entrepreneurship and innovation. With our partnership with BITS Pilani (Pilani Innovation & Entrepreneurship Development Society), we are looking forward to bringing our curated startup offerings under the FIRST Wings programme and make a positive impact on the startup ecosystem in Rajasthan, ”Bhavesh Jatania, Head-Startup Banking IDFC FIRST Bank.

The partnership between IDFC FIRST Bank and Pilani Innovation & Entrepreneurship Development Society will help create a supportive environment for startups in Rajasthan and enable them to grow and contribute to the state's economy.