Indian Institute of Management (IIM) Bangalore’s incubation centre NSRCEL organised a Fintech Festival to celebrate one year of its fintech startup incubation program. Out of a total of 240 fintech startups, the institute had selected 10 which have cumulatively raised Rs 25 crore as VC/angel funding.
The 10 startups underwent an intensive nine-month incubation journey, which concluded on August 4. The ten fintech startups which underwent the incubation journey at IIMB’s NSRCEL include Algofox, Idos, Credochain, Hylo Challenger Private Limited, Jarvis Invest, Gimbooks, Wealth Easy, Paymatrix, Zimyo, and Phi Commerce Pvt Ltd.
The Fintech Festival witnessed deliberations and discussions on the fintech industry for incubated startups and fintech enthusiasts alike.
The incubation program was launched last year in partnership with ICICI Securities, a financial services firm. It joined hands with NSRCEL, by contributing its CSR funds to support promising startups in the fintech space through a structured program.
“These endeavours are crucial at this juncture to leverage benefits from the myriad opportunities available to make Fintech founders future-ready and generate more employment opportunities. By focusing on a particular area with support from highly qualified faculty, talented learners, and industry luminaries, we can create a much stronger impact in the thriving fintech industry especially in the era of rapid digitalisation,” said Prof Venkatesh Panchapagesan, Chairperson NSRCEL at IIMB at the event.
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