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Business EconomyPosted at: Jan 5 2016 6:57PM


KFC and KITC enters MoU

The MoU was signed here by Joy Oommen, K F C Chairman Managing Director Joy Oommen and KITCO Managing Director Cyriac Davies, a release said here today.
As per the MoU, KITCO would send commercially viable and technologically matured start-ups to KFC for availing financial assistance and the KITCO would recommend start-ups incubated at KITCO and other networking TBIs of KITCO for funding by KFC after providing adequate training and mentoring to enhance the success rate.
KFC would consider the proposals, recommended by KITCO and sanction eligible financial products as per the schemes operated by it, it said, adding loanees would be governed by the policies and procedures followed by KFC.
Stating that the KITCO and the KFC would work jointly to ensure that the promoters of the start-ups are provided with hassle-free services and representatives of the two organisations would meet on a quarterly basis to evaluate the operation of the MoU and the start-ups under the MoU, the release added.
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