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).
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.
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.”
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”.
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.
