Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups

Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups

SUMMARY

The 12-Week Long Fintech Valley Accelerator Programme Will Provide Startups $6K Fund-Support, Guidance and Training.

As announced by Andhra Pradesh CM Chandrababu Naidu at Vizag Blockchain Conference, Fintech Valley, a body established by the state government to promote sustainable global fintech ecosystem has launched Fintech Valley Accelerator programme for fintech startups. The 12-week long accelerator program intends to provide startups, a combination of support, guidance and training. The accelerator has also shortlisted eight startups that will join its inaugural cohort.

The fintech startups were selected from the top 20 startups who showcased their solutions to the business leaders of ICICI bank, Mahindra Finance and Microsoft. The accelerator programme is in collaboration with ICICI Bank and Mahindra Finance as corporate partners and Microsoft as the technology & acceleration partner.

Fintech Valley Accelerator: Shortlisted Startups

Moneytor: The Bengaluru-based fintech startup focuses on leveraging technology to make fragmented stressed receivables market more efficient, improve default recovery rates, and in the long run, be able to rightly price such portfolios.

Fingpay: The startup allows customers to pay for products, services and utilities at POS from any of their bank accounts and/or wallets with just a scan of a finger.

Incremint: It provides financial advisors/ agents, a platform to cross-sell financial products to their clients by providing them access to products, tools, and their own website/app.

GyanDhan: It is an education financing marketplace with an aim to equalize and expand access to higher education abroad.

TAQBit: This startup makes encryption unconditionally secure & affordable by developing standardized quantum systems for information processing technologies which have application in end to end encryption

Nanobi: This startup is an analytics product company radically changing the way enterprises create, consume and action on analytics for business growth

Heckyl Technologies: The startup operates in the space of real-time analytics of structured and unstructured data offering high-end analytical products to financial institutions and corporates

iProov: The startup has created means to authenticate a person on any device using their face, for ID verification or logon purposes which is strongly resilient to spoofs and replay attacks yet ultra-easy to use.

Fintech Valley Accelerator: ICICI Bank, Mahindra Finance And Microsoft As Mentors

According to a statement released by Fintech Valley, ICICI Bank and Mahindra Finance will provide business mentorship to the selected fintech startups and explore partnerships with them by implementing their solutions in their ecosystem. Microsoft will provide technology and business mentorship to the selected start-ups and access to Microsoft products and services under its Bizspark programme.

The first cohort is scheduled to start in the last week of October. The Andhra Pradesh government will support the selected startups by providing access to technology resources, mentoring on fundraising, legal guidance, market access from partner financial institutions amongst many other initiatives to speed up the process of scaling their businesses. The selected participants of the accelerator programme will also receive a financial incentive of $6,083 (INR 4 Lakhs) for any operational exigencies during the three-month duration. The programme will conclude following its demo day in January 2018, in the presence of corporates, mentors and investors from across the world.

In India, there has been a host of fintech startup incubators. Microsoft, Paypal, Oracle, Yes Bank, and NASSCOM’s 10,000 startups are the current leading fintech startup accelerators in India. Kerala State government has also set-up an incubator Startup village to promote fintech startups. Fintech startups Paytm and Razorpay have grown over 10x in last one year, an inspiring tale for upcoming startups. Fintech Valley Vizag aims to incubate fintech startups with an aim to promote Vizag as their operational homes.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups-Inc42 Media
Fintech Valley Accelerator Announces First Cohort With Eight Fintech Startups-Inc42 Media
You’re in Good company