PIEDS, BITS Pilani has announced the launch of FinXcelerator, a nationwide initiative to accelerate fintech startups, in partnership with Reserve Bank Innovation Hub (RBIH) and ICICI Bank. This collaboration aims to promote innovation and create an inclusive environment for startups in the financial sector.
ICICI Bank, one of the partners in the programme, will provide selected startups with curated mentorship, masterclasses and accelerated opportunities to design solutions with the Bank. The Bank will also provide access to its API library.
FinXcelerator, a 45-day accelerator programme, offers selected startups a comprehensive range of services, including mentoring, personalised support, and opportunities for pilot projects with ICICI bank and other corporates. The programme also features keynote sessions, panel discussions, networking meetups, and a demo day for startups to showcase their innovations to potential investors and stakeholders.
“This collaboration will help drive innovation in financial services, thus paving the way for a vibrant fintech ecosystem in India,” Rajesh Bansal, CEO, Reserve Bank Innovation Hub, said.
This programme will help the next generation of fintech entrepreneurs to find all the resources and stakeholders such as Banks, VCs, Fintech Corporates and much more to reach their full potential, Sudhirkumar Barai, director, BITS Pilani, Pilani Campus, said.
The application window for FinXcelerator is currently open, and interested fintech startups can apply before the September 24th deadline. After the submission period, applications will be evaluated, and tailored goals will be set for each selected startup. The programme has commenced with a launch event in Bangalore and continues with meetups in other cities leading up to the demo day, providing startups with exposure and valuable connections.
The Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of the Reserve Bank of India, focuses on promoting and facilitating an environment that accelerates innovation across the financial sector, while Pilani Innovation and Entrepreneurship Development Society (PIEDS), start-up cell of BITS, Pilani, specialises in incubation, acceleration, and funding for startups.