- HSBC India launches $1B Innovation Banking for startups’ growth.
- Non-dilutive funding preserves founder equity from seed to IPO.
- A global network of 900 specialists supports India’s startup ecosystem.
HSBC India unveiled its ‘Innovation Banking’ initiative, providing banking and financing solutions to aid entrepreneurial ventures at every stage of their development, from seed funding to IPO, along with support for their investors. The bank intends to provide $1 billion in non-dilutive debt funding to assist Indian startups.
The funding aims to support the expansion of companies from early to late stages in their operational scaling without reducing equity, allowing founders and investors to maintain more control over their businesses, according to a statement from the bank.
HSBC India announced that it currently holds a significant balance sheet allocation for financing funds in both venture capital and domestic private equity funds. The release stated that with the introduction of Innovation Banking, the bank intends to broaden this offering, including a wider variety of funds and proposals. The bank declared that its introduction in India broadens its global Innovation Banking platform, offering customized financing and connectivity via more than 900 specialists globally.
David Sabow, Global Head of HSBC Innovation Banking, stated that the $1 billion investment indicates a lasting dedication to India’s innovation sector, job generation, and skills enhancement.
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“With the launch of HSBC Innovation Banking in India, we are deepening our support for the vibrant startup ecosystem, where we have a proven track record of partnering with clients on their growth journeys,” said Ajay Sharma, Head of Banking, HSBC India.
With the synergy of our worldwide connectivity and extensive venture network, HSBC Innovation Banking is ideally positioned to assist Indian startups in growing internationally and reaching new markets, he stated. HSBC India reported that, given India’s status as the fastest-growing major economy and a center for technology and talent, Indian startups are projected to add $1 trillion to the domestic economy and create 50 million new jobs by 2030.