Mumbai/ Bangalore, June 08, 2020 – NSRCEL, the startup hub at the Indian Institute of Management Bangalore (IIMB), today announced the list of 25 shortlisted fintech startups for a 15-month extensive program, which could see many of them receiving funding from the CSR fund of ICICI Securities, India’s leading financial services firm.
The selected ventures will undergo a 3-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions. Networking events, connects with industry experts, mock-pitches and interaction with investors will be major highlights of the program.
Post this, the ventures will be given an opportunity to pitch for incubation and funding and the selected ventures will be taken forward for a further 12-month incubation journey.
The initiative was launched in association with ICICI Securities as part of its CSR activity in April 2020, and received over 240 applications from across the country. The selection panel comprising of Mr. Rajiv Sawhney, COO, NSRCEL and Prof. Venky Panchapagesan, Chairperson, NSRCEL, evaluated all applicants and interviewed over 60 entrepreneurs, before handpicking the finalists.
The ventures selected are early-stage startups working in areas like trading, lending, payments, wealth advisory, insurance tech, accounting and financial management, billing software and auxiliary sector-logistics. The cohort covers the participants from nine cities across India including Bangalore, Pune, Mumbai, Guragaon, Raipur, Noida, Udaipur and Hyderabad.
ICICI Securities has undertaken to partner the initiative as it believes that fintech have immense potential in jobs creation and economic growth, something which is a need of the hour for India, which has a large population entering the workforce every year.
The selected startups are:
· Mudra Circle
|Wealth Advisory/ Investment Platforms||Payments||Accounting and Billing SAAS||Auxiliary|
· Capital Quotient
· Patten Effect Labs
|· GIM Books
· IDOS India
· Hylo Challenger
About ICICI Securities:
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services. I-Sec operates www.icicidirect.com, India’s leading virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its three lines of businesses — broking, distribution of financial products, and investment banking– I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government. I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com
With programs specifically catering to entrepreneurs with profit ventures and social ventures, also student and women entrepreneurs, NSRCEL offers its support to various players of the startup ecosystem. NSRCEL brings together startups, industry mentors, eminent academicians from its parent institution Indian Institute of Management Bangalore and researchers who thrive on continuous interaction of theory and practice. NSRCEL is also the first incubator with a program for tailored for social entrepreneurs and their unique challenges. For more info visit- www.nsrcel.org
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