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DBS Bank India & StartupTN team to foster entrepreneurship in India

By Gloria Mathias

February 05, 2024

  • DBS Bank
  • DBS Bank India
  • entrepreneur

DBS Bank, DBS Bank India, StartupTN, Fintech, Startup, Entrepreneur, Tamil Nadu, Payments, DBS Bank India has announced a strategic partnership with StartupTN, the nodal agency of the Government of Tamil Nadu, to promote entrepreneurship throughout the state.

The partnership will impact and engage more than 1,000 startups in Tamil Nadu through StartupTN’s eight regional hubs in metros, as well as Tier 2 & Tier 3 cities.

DBS Bank India aims to play a pivotal role with specialised offerings that include zero AQB charges for the first two quarters, FDI assistance, and API Banking for seamless financial management. In addition, there are value-added services like Flexi Fixed Deposits and frictionless cross-border services for startups hoping to capitalise on global opportunities.

Beyond banking solutions, DBS Bank India will also facilitate a host of value-added services via its partner network, like trademark registration assistance to protect intellectual property, health and welfare packages for employees, and access to a venture intelligence platform for market insights.

Sudarshan Chari, Executive Director and Head of SME Banking at DBS Bank India said, “India’s startup ecosystem is at a critical juncture. There is a clear need for a more personalised approach to help boost the success rate of enterprises in the early stages of their growth cycle. At DBS Bank India, with our local business insights, digital capabilities, and access to global markets, we enable startups to achieve their full potential. Our partnership with StartupTN will further strengthen our ability to provide a meaningful platform for businesses and entrepreneurs to thrive and scale their ventures.”

StartupTN Mission Director and Chief Executive Officer Thiru. Sivarajah Ramanathan said, “We are excited to note that banks are offering innovative, comprehensive solutions for startups. StartupTN is keen to work with banks to identify and meet the needs of startups across the state. Our partnership with DBS Bank India is an exciting development, and we are confident that the association will help to accelerate the growth of startups in Tamil Nadu.”

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