Incubation of Fintech start-ups -

Background

To foster a culture of entrepreneurship and aid sustainable economic growth, the Company partnered with N S Raghavan Centre of Entrepreneurial Learning (NSRCEL) of the Indian Institute of Management Bangalore (IIMB) to incubate Fintech start-ups. The initiative commenced in January 2020 and was to be completed in 15 months, but has now extended due to the pandemic caused by COVID - 19

Details

The programme involved a structured end-to-end approach, broadly entailing the following steps:

• • Outreach: Reaching out through seminars, webinars and social media to interested individuals, calling for applications and screening of applicants.
  • Pre-incubation: Also known as 'Launchpad', this phase, slated for three months, commenced in June 2020. This phase had mentoring sessions for the selected ventures in various areas The ventures had a Demo Day at the end of this phase, to present their project details to a jury , comprising of members from NSRCEL and ICICI Securities.
  • Incubation: Basis the problems being addressed. Considering the target segment and use of emerging technologies for the proposed solutions, the top few ventures were selected. These enterprises are currently in the incubation phase that will last for nine months. They will be mentored on topics useful for scaling up the business.