The ‘Innovation Banking’ division of HSBC India, which provides banking and financing solutions to support entrepreneurial enterprises from seed to IPO, as well as their investors, was launched in India on Thursday.

To assist Indian startups, the bank intends to provide $1 billion in non-dilutive debt capital.  According to a bank press release, the capital helps early- to late-stage growth enterprises expand their operations without reducing equity, giving founders and investors more control over their company.

According to HSBC India, it already has a sizeable portion of its balance sheet set aside for fund financing, including both domestic private equity funds and venture capital funds.  According to the statement, the bank hopes to broaden this offering by introducing Innovation Banking, which will include a wider variety of products and solutions.

According to the bank, its entry into India broadens its global Innovation Banking platform, which offers customized finance and connections through more than 900 professionals globally.

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The $1 billion investment shows a long-term commitment to India’s innovation economy, job creation, and skill development, according to David Sabow, Global Head of HSBC Innovation Banking.

Ajay Sharma, Head of Banking at HSBC India, stated, “With the introduction of HSBC Innovation Banking in India, we are strengthening our support for the thriving startup ecosystem, where we have a proven track record of partnering with clients on their growth journeys.”

He continued by saying that HSBC Innovation Banking is in a good position to help Indian companies expand globally and reach new markets because to the combined power of our extensive venture network and global connectivity.

According to HSBC India, Indian start-ups are predicted to create 50 million new employment and contribute $1 trillion to the domestic economy by 2030, making India the fastest-growing major economy and a powerhouse for talent and technology.