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
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
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
The selected startups are:
Wealth Advisory /
Patten Effect Labs
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
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: