InFinIT 20 presents an unparalleled opportunity for Finance Technology Startups – a chance to get full-fledged mentorship from the leadership team of RBL Bank, one of India’s fastest growing small bank. India’s Fintech space is currently going through a wave of innovation & entrepreneurship. RBL Bank is extremely excited to partner with Startup India & Invest India to nurture select 20 creative innovators over the duration of 3 months. The initiative will help these startups in their early stages to build meaningful strategies and successful businesses.
About RBL Bank: One of India’s fastest growing private sector banks, which offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking & Financial Inclusion, Treasury and Financial Markets Operations. It currently services over 3.54 million customers through a network of 246 branches and 393 ATMs spread across 20 Indian states and Union Territories.
Terms & Conditions
- Applications open on 1st Feb 2018 & close on 28th Feb 2017.
- What the selected teams get:
- Mentorship for 3 months in two skills (the areas you most need mentorship in)
- Opportunity to network with Industry Specialists
- Banking Assistance from RBL Bank
- Early Traction & Scaling startups will be additionally given an opportunity to present their ideas to our investor partners for fundraising & feedback
- RBL Bank will assign relevant mentors to the selected teams basis the preferred areas of mentorship indicated by them during application.
- These areas of mentorship include Product Development and Technology, Customer Acquisition, Fundraising, Branding & Marketing, Compliance & Legal Aspects, and Human Resource Management.
- Every selected team will receive a minimum of 10 hours of mentorship over 3 months from the program’s mentor panel & partners. The duration and frequency of each mentorship session will be mutually decided by the respective mentor(s) and selected team.
- If convenient to both the selected team and mentor, the mentorship sessions shall be through physical meetings. If not, the mentorship sessions shall be held virtually (through video conferencing or calls).
- Ownership of any IP generated by program participants will accrue solely to those participants.
For any queries, please write to us at email@example.com or call us at our toll-free number 1800115565.
Note: Application form is accessible after you register & complete your profile on the Startup India Hub. All profiles are initially placed under moderation and are approved within 48 hours, upon which you will receive an email.
- FinTech sector globally is likely to continue its current growth trajectory, with a prediction to touch USD 45 billion by 2020 at a Compound Annual Growth Rate (CAGR) of 7.1%
- The Indian fintech software market is expected to double from current $1.2 bn to $2.4 bn by 2020
- The financial services market in India is primarily untapped, with 40% of the population having no association with any bank and more than 80% of the transactions carried out through cash
- The transaction value for the Indian Fintech sector is likely to touch USD 73 billion in 2020, growing at a five-year CAGR of 22%
- Fintech investment in India increased manifold from USD 247 million in 2014 to more than USD 1.5 billion in 2015
- India is witnessing increasing interest levels in start-up funding, which is evident by increasing number of angel deals from 370 in 2014 to 691 in 2015