Indian Institute of Bangalore, or IIM Bangalore, has announced a list of 25 fintech startups for a 15-month extensive program. The startups, shortlisted by Nadathur S. Raghavan Centre for Entrepreneurial Learning, or NSRCEL startup hub of the institute may become eligible for funding by the corporate social responsibility, or CSR, fund of ICICI Securities. The initiative was launched in April 2020 as part of ICICI security's CSR activities. More than 240 startups applied for the program, according to IIM Bangalore.
“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,” IIM Bangalore said in a statement.
“The cohort covers the participants from nine cities across India including Bangalore, Pune, Mumbai, Gurgaon, Raipur, Noida, Udaipur, and Hyderabad,” the statement added.
Minkspay, one of the startups shortlisted under the program, offers financial technology solutions to stores in small Indian towns. Another startup Zimyo, a human resource management system, has 200 customers so far; according to information on its website.
The startups, shortlisted by Rajiv Sawhney, chief operating officer, NSRCEL; and Prof. Venkatesh Panchapagesan, chairperson, NSRCEL; will undergo a three-month pre-incubation period comprising of sessions, workshops, networking events and other activities, IIM Bangalore informed.
