HDFC Bank to set up SmartUp Zones across country

Private sector HDFC Bank today announced that it would launch SmartUp Zones in 30 cities, aimed at serving entrepreneurs.
The SmartUp Zones would be launched in over 65 branches of the bank in these cities, including Tier II and III locations, that have emerged as start-up hubs, a bank statement said.
Last year, the bank had launched a 'first-of-its-kind' banking solutions for startups leading to the launch of the SmartUp Zone.
In Chennai, the Smartup Zone will be set up in HDFC's Nungambakkam branch to serve 1,000 city based start-ups. They will have specially trained bank-staff offering tailor-made banking and advisory solutions to entrepreneurs.

The start-ups at SmartUp Zones would also be an opportunity for entrepreneurs to showcase products to bank customers.
"At HDFC Bank, we believe that start-ups need partners, who will be with them right from the start of their entrepreneurial journey, creating solutions that evolve as the company grows," said HDFC Bank-Tamil Nadu, Zonal Head, George Mathai.

"With this in mind, we are working towards creating a complete ecosystem to nurture the spirit of innovation and enterprise in the start-up space that will spur job creation and bring economic benefits to the country", he said.
"We have revamped the SmartUp product suite to include Escrow accounts for investors and Demat shares for these unlisted companies to raise funds", he added.

Recently, HDFC bank had announced the launch of Industry Academia in IIT Bombay, IIT Roorkee and IIM Ahmedabad to mentor start-ups along with the institutions' entrepreneurship and incubation cells.