Incubation Program for Fintech Startups by NSRCEL, IIMB and ICICI Securities Invites
applications for its 1st cohort
Mumbai, April 1, 2020 - India's financial technology (Fintech) sector is
growing rapidly, which is primarily fueled by the emergence of new Fintech startups,
abundance of technical know-how and friendly government policies and regulations.
ICICI Securities (I-Sec) India's leading financial services firm, as a part of it
CSR initiative, has joined hands with N S Raghavan Centre of Entrepreneurial Learning
(NSRCEL), the startup hub at the Indian Institute of Management Bangalore (IIMB),
in supporting promising startups in the fintech space through a structured program.
"India is a young nation with over half its population at under 25 years. While
the country has made significant strides in digitalization and technological innovation
which has made it more competitive in the global landscape, there exists a larger
challenge on creation of employment opportunities and jobs for the young population.
With the immense potential of the Fintech Sector in jobs creation and economic growth,
I-Sec, as part of its CSR initiative, is happy to partner with NSRCEL, one of the
oldest incubator cells in the country, to provide mentorship to these startups.
We do hope that that this joint initiative will lead to many successful ideas which
will provide large employment generation opportunities," said Mr. Vijay Chandok,
MD & CEO, ICICI Securities.
"We had largely remained sector-agnostic in 20 years and this is our first attempt
to create impact in a particular domain. Our motivation is simple - focus on an
area where there are highly renowned faculty, sufficiently interested students,
a large roster of illustrious alumni in that area and finally a thriving Centre
of Excellence with deep connections to the industry. Fintech became the natural
choice and we are excited to partner with I-Sec to kickstart our maiden program,"
said Prof. Venkatesh Panchapagesan, Chairperson of NSRCEL at IIMB.
Startups in ideation to early customer stage will be guided by mentors through need
assessment, one-on-one interactions and workshops. The 15-month program is for professionals
in Insurance, Trading, Personal Finance, Banking, Wealth Advisory, Lending and Payments
and Taxation. These startups can then glide through to the Go-to-Market stage and
work on scaling up through guidance, workshops, shared learning, funding, goal-setting
through launch of POCs and extensive business growth opportunities. Startups will
be getting exclusive access to IIMB resources and industry connections in Fintech.
At the end of the program, select startups will also be receiving funding support.
Apply now to take your fintech startup to the next level!
For more info visit- WWW.NSRCEL.ORG/FINTECH
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.
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
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.
Except for the historical information contained herein, statements in this release
which contain words or phrases such as 'will', 'expected to', etc., and similar
expressions or variations of such expressions may constitute 'forward-looking statements'.
These forward-looking statements involve a number of risks, uncertainties and other
factors that could cause actual results, opportunities and growth potential to differ
materially from those suggested by the forward-looking statements. These risks and
uncertainties include, but are not limited to, the actual growth in broking business
and other financial services in the countries that we operate or where a material
number of our customers reside, our ability to successfully implement our strategy,
including our use of the Internet and other technology our exploration of merger
and acquisition opportunities, our ability to integrate mergers or acquisitions
into our operations and manage the risks associated with such acquisitions to achieve
our strategic and financial objectives, our growth and expansion in domestic and
overseas markets, technological changes, our ability to market new products, the
outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions
we are or become a party to, the future impact of new accounting standards, our
ability to implement our dividend policy, the impact of changes in insurance regulations
and other regulatory changes in India and other jurisdictions on us. ICICI Securities
Limited undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date thereof.
For further details, contact: