Startupbootcamp launches fintech accelerator program in India

Startupbootcamp, the family of industry-focused startup accelerators and programs, has announced the launch of its first program in Mumbai, India – Startupbootcamp FinTech, that will accelerate 10 fintech startups in areas including payments, financial inclusion, insurance and P2P.

The event release stated that the program is backed by leading financial institutions including ICICI Bank, RBL Bank, AZB & Partners and PwC. The accelerator is an intensive 3+1 month program that provides startups with an intense structured, mentorship, office space in the heart of Mumbai. It also provides funding and access to a global network of investors and VCs.

“ICICI Bank has always been at the forefront to provide opportunities and avenues to the young Indians. We are delighted to partner with Startupbootcamp and see the fascinating ideas that come from the young Indian’s and play a role in their journey.  ICICI Bank is committed to harness latest technology for the benefit of our customers across geographical and economic segments of the country,” Abonty Banerjee, Senior General Manager & Head- Digital Channels, ICICI Bank said.

The selected startups will collaborate with an extensive network of mentors, partners and investors for the three months, in a goal of becoming leading fintech players in the market. The mentors will include Hitesh Sachdev, Principal of Emerging Markets Fund at ICICI Bank; Gaurav Mathur, Founder and MD at InVent Capital; Prasad Menon, Director at Tata Group and Axis Bank; among other eminent leaders in the industry.

"Cutting-edge technology is reshaping the financial services industry in India. Technology disruptions and innovations are removing the barriers and issues related to infrastructure and inclusion, and are enabling the financial services industry to serve a previously untapped clientele as well as improve service to present ones. The Startupbootcamp program has been instrumental in giving wings to startups and enabling them to grow in the FinTech space globally," Vivek Belgavi, fintech leader, PwC India said.

The accelerator has seen successful programs in London, Singapore and New York. The evolution of the fintech program to Mumbai ensures coverage of the three main fintech hubs around the world and now the fastest growing economy. Startups can register for the accelerator from September 28 and the deadline to apply is on 20th December, 2016. The accelerator will begin in early 2017.