- IIMK’s business incubator LIVE’s unique intervention to mentor start-ups in the Fintech sector with a 3-month long accelerator programme by offering Funding Support from IFSCA under its FinTech Grant scheme which offers grants up to Rs.75 lakhs.
- Program to support start-ups in obtaining scale-up funds, market access, and investor connections along with intensive mentorship and training sessions from industry pioneers and subject matter experts.
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Kozhikode, 08 Jan 2024: To support and nurture the entrepreneurial journey of new-age fintech startups, IIMK LIVE (The Business Incubator and the Entrepreneurship Development Center of IIM Kozhikode) has launched FINN X – A Fintech themed-accelerator program. This unique accelerator program is implemented in collaboration with the International Financial Services Centres Authority (IFSCA).
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FINN X will be a 3-month accelerator program, which envisions specifically bolstering the growth of start-ups leveraging Fintech as their core technology to design and deliver ground-breaking financial products and services. In this program, IFSCA offers grants up to Rs.75 lakhs which includes a FinTech Start-up grant of Rs. 15 Lakhs and, a Proof of Concept (PoC) grant of Rs. 50 Lakhs, Sand-box Grant Rs. 30 Lakhs, and Green FinTech Grant up to Rs. 75 Lakhs. Most importantly, as part of this program, start-ups will also receive intensive training and mentorship support from IIMK LIVE through its wide network of industry and subject matter experts which will help in acquiring the right business acumen and competencies to roll out impactful solutions that can act as game changers.
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Announcing the program, Prof. Debashis Chatterjee, Director IIMK & Chairman IIMK LIVE, said “FINN X has the potential to be a game-changing collaboration between IIMK LIVE and IFSCA. The program will support start-ups in accelerating their innovation trajectory by assisting them in obtaining Funding Support, mentorship, market access, and training support from IIMK LIVE. Fintech has revolutionised the financial services sector with its dynamic nature and we are pleased to see IIMK LIVE play a crucial role in mentoring up-and-coming start-ups to achieve value-creation, sustainable growth and financial inclusion in this vital sector.”
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Prof. Ashutosh Sarkar, Executive Director of IIMK LIVE added, “Given the significant Innovations happening in the fintech sectors the collaboration between IIMK LIVE and IFSCA would benefit the FinTech startups from this program’s funding, market access, and mentorship. Many successful early-stage companies have had their transitions smoothly coordinated by our Innovation Center LIVE”.
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Start-ups with early traction in terms of customer and revenue will be given preference. To know more details and to apply for this program, interested start-ups may log on to www.iimklive.org. Please note, that the last date to apply is January 20, 2024.
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About Indian Institute of Management, Kozhikode: The fifth IIM to be established by Govt. of India in 1996, IIMK started its academic journey in 1997 with its flagship Postgraduate Program (PGP). The Institute is on a high growth trajectory today, offering widest range of academic programs in the field of management education. These include Doctoral Programme in Management (PhD), Executive PG Programmes, Management Development Programmes and Faculty Development Programs. IIMK set up a Satellite campus at Infopark, Kochi, in 2013 dedicated to Executive Education. IIMK has also the unique distinction of launching a PhD (Practice Track) programme for working professionals besides bringing in new dynamic courses like one-year Post Graduate programme in Business Leadership (2019) MBA in Finance and MBA in Liberal Studies & Management (2020). The institute is also home to IIMK LIVE a first-of-its-kind startup incubation programme, the Indian Business Museum and six other Centres of Excellences encompassing diverse areas. IIMK is ranked 3rd as per NIRF India Rankings 2023: Management. The institute also made its global debut for its flagship MBA and EMBA programme in the 2020/21 QS World University Rankings. In 2023, IIM Kozhikode also broke into Top-100 in Financial Times Ranking for Open Enrollment Programme (Rank #72) and Masters in Management (MBA) (Rank #77). Institute is globally accredited by EQUIS (EFMD) and AMBA (UK). Submitted by Vikas.
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