IDFC First Bank has started a initiative to empower India's growing start-up ecosystem with the unveiling of the First Wings Start-up Lounge, a dedicated space designed to support early-stage entrepreneurs. Located in the heart of Bangalore's innovation district, Koramangala, this first-of-its-kind initiative by a bank in India aims to provide essential resources, mentorship, and networking opportunities to help start-ups scale and thrive.
On the occasion of the disclosure , Bhavesh Jatania, Head of Start-up Banking at IDFC First Bank, expressed enthusiasm about the initiative. “We are excited to introduce the FIRST Wings Start-up Lounge—a space that fosters collaboration and innovation. Through this initiative, we aim to create synergies by partnering with incubators, accelerators, venture capitalists, and angel investors. Our goal is to empower entrepreneurs with the tools, connections, and expertise they need to navigate the challenges of a rapidly evolving business environment,” he said.
The First Wings Start-up Lounge is equipped with modern amenities, including state-of-the-art meeting rooms and advanced video conferencing solutions, designed to facilitate seamless communication and collaboration between entrepreneurs and investors. The lounge will also serve as a hub for various events aimed at fostering growth, including Knowledge Sessions featuring industry experts, Networking Events connecting start-ups with potential investors, and Pitch Presentations where entrepreneurs can showcase their business ideas to a panel of investors for feedback and funding opportunities.
In addition to the physical space, IDFC First Bank’s Start-up Banking Program offers several features designed to support early-stage ventures, including:
First Start-up Current Account: A zero-fee current account with no minimum balance requirement for the first three years.
First Bravo Feature: A smart sweep facility that allows start-ups to earn returns of up to 7.25% on idle funds by automatically transferring amounts over Rs 2 lakhs into fixed deposits.
First Business Corporate Credit Card: A flexible business credit card offering startups control over their expenses and cash flow.
Founder Success Program: The LeapToUnicorn initiative, providing mentorship, networking, and fundraising opportunities through a structured journey for start-ups.
The First Wings Start-up Lounge is expected to become a key player in the Indian start-up ecosystem, providing entrepreneurs with the resources and networks necessary to scale their businesses and succeed in an increasingly competitive market. With support from various ecosystem partners, including investors, government bodies, and accelerators, IDFC First Bank aims to catalyse the growth of Indian start-ups and help them navigate the complexities of innovation and business growth.
