In a move to support the budding startups in the state, the Karnataka government signed nine memorandums of understanding (MoUs) with partners namely HDFC, RazorPay, Paytm, Microsoft, AWS Activate, The GAIN, Dayanand Sagar Entrepreneurship Research and Business Incubation (DERBI) and StrongHer Ventures Fund at the Bengaluru Tech Summit here on Friday.
These MoUs are a part of the government’s ‘Booster Kit’ initiative which aims to support the growth of start-ups in the state.
The ‘Booster Kit’ includes financial, incubation, mentoring, cloud and business services.
A memorandum of understanding, or MOU, is a nonbinding agreement that states each party’s intentions to take action, execute a business deal, or form a new partnership.
These partners will help startups with services in cloud, website hosting, payment and digital, banking, fintech, mentoring and funding.
Besides the MoUs, the Semiconductor Fabless Accelerator Lab (SFAL) also exchanged letters of intent with Pantomath Capital Advisory, Digital Shark Technologies and Elektropod Technologies in the area of developing and enhancing the fabless ecosystem in India.
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