Nektarios Liolios, co-founder and CEO, Startupbootcamp FinTech said, “India, as the fastest growing economy, has many challenges it needs to overcome if it is to reach its potential, which presents great opportunities to fintech startups in the country. We are excited to see the talent that emerges from the new programme.”
Selected startups will work with Startupbootcamp partners and fintech biggies like ICICI Bank, ICICI Lombard, RBL Bank, AZB & Partners and PwC. ICICI Bank, as a founding institution, will mentor the winning companies, help them enhance their business plans and products. As a part of the partnership, the bank will also pick up an equity stake in these companies.
According to an official statement, the accelerator will also provide mentorship, office space and access to funding and a network of industry partners, investors, and venture capital firms for up to 10 selected global fintech startups. Each successful team will also receive about $16.8K grant and office space for at least three months.
To kick off, startups are invited to present their ideas to the Startupbootcamp FinTech team at a series of Fast Track days within India in Mumbai, Bengaluru, New Delhi, Hyderabad, Kolkata, Pune, as well as in Dubai, Sri Lanka, and Bangladesh.
Alok Vajpeyi is named as the Chairman of the new programme. Vajpeyi is an external adviser to UKTI India on fintech. He is a venture investor and serial entrepreneur
The expansion into India builds on the momentum of Startupbootcamp worldwide, which has accelerated over 340 startups in 14 different programmes worldwide since 2010.
Founded in 2010, Startupbootcamp is a global startup accelerator network with programmes in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Istanbul, London, Miami, and Singapore, and a mentor and alumni network in more than 30 countries.
Startupbootcamp FinTech was launched in 2014. Based in London, Singapore, and New York, its partners include Rabobank, MasterCard, Thomson Reuters, Santander, Lloyds Banking Group, Arvato Financial Services, Route 66 Ventures, and Intesa Sanpaolo.
Applications will remain open from September 28, 2016, until December 20, 2016. Interested startups can apply for here.