NSRCEL, a startup hub established at the Indian Institute of Management Bangalore (IIMB), has released its list of 25 Fintech companies that have been shortlisted to take part in a 15-month business and product development program.
Through the program, these Fintech startups can expect to acquire funding from the CSR fund of ICICI Securities, an established financial services firm based in India.
The selected Fintech projects will have to complete a three-month pre-incubation program during which they will attend several informative sessions, workshops, and take part in engaging learning activities.
Program participants will also receive regular one-on-one mentoring and will have the opportunity to attend advisory sessions. They may also attend professional networking events, which will connect them with the relevant Fintech industry professionals.
Startup founders and aspiring entrepreneurs will be asked to deliver mock-pitches to improve their presentation and communication skills. They’ll also get a chance to interact with potential investors.
Indian entrepreneurs will also be able to pitch their business ideas so that they can take part in project accelerator and incubation programs. Projects may receive funding if they meet certain criteria, and certain high-potential initiatives will be selected to take part in a 12-month incubation program.
This project has been introduced with the assistance of ICICI Securities as part of its Corporate Social Responsibility (CSR) program (launched in April 2020). More than 240 applications have been submitted so far, according to a press release.
The selection panel members included Rajiv Sawhney, COO, NSRCEL and Prof. Venky Panchapagesan, Chairperson, NSRCEL. They interviewed and assessed proposals from all applicants, before they shortlisted the finalists.
The projects chosen are early-stage firms specliazing in several keys areas such as trading, lending, payments, wealth advisory, Insurtech, accounting and financial management, billing software and auxiliary sector-logistics.
Participants come from nine different cities in India including Bangalore, Pune, Mumbai, Guragaon, Raipur, Noida, Udaipur and Hyderabad.