Yes Bank to train and equip 12 startups under its incubation programme
MUMBAI: Private sector lender Yes Bank has shortlisted 12 startups for its Business Accelerator Program.
The final 12, were selected from the top 35 startups who showcased their solutions to the Yes Bank leadership team over a two-day pitching session. The month-long application phase of the program received 753 applicants around the world.
The Accelerator has been set up in collaboration with T Hub - India's fastest growing startup engine catalysing innovation, scale and deal flow and Anthill Ventures. LetsTalkPayments, a global platform for financial technology (Fintech) insights served as the knowledge partner.
The 12 startups selected will work across fintech domains like payments, lending, credit scoring, cybersecurity, artificial intelligence and blockchain among many other fields.
They will go through a 15 week program which will involve 3 week onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected start-ups can continue to work from the home location.
Yes Bank will facilitate them with mentorship from industry experts to provide guidance, help them integrate their systems with the bank's platform and also give them access to their network of customers.The bank will also allow funding upto $1 million through VC partners without any equity commitment equity commitment
"Yes Fintech Accelerator takes forward YES BANK's A.R.T model – Alliances, Relationships Technology to provide innovating banking solutions to our customers and provides startups a platform for creating sustainable and market ready products. We believe that the 15 week program will provide an ideal springboard for these 12 startups to graduate from innovative products to scalable businesses with access to Yes Bank's digital banking infrastructure as well as our robust customer network," said Rana Kapoor, chief executive, Yes Bank.
The final 12, were selected from the top 35 startups who showcased their solutions to the Yes Bank leadership team over a two-day pitching session. The month-long application phase of the program received 753 applicants around the world.
The Accelerator has been set up in collaboration with T Hub - India's fastest growing startup engine catalysing innovation, scale and deal flow and Anthill Ventures. LetsTalkPayments, a global platform for financial technology (Fintech) insights served as the knowledge partner.
The 12 startups selected will work across fintech domains like payments, lending, credit scoring, cybersecurity, artificial intelligence and blockchain among many other fields.
They will go through a 15 week program which will involve 3 week onsite interactions at Mumbai and Hyderabad and 12 weeks offsite interactions, wherein the selected start-ups can continue to work from the home location.
Yes Bank will facilitate them with mentorship from industry experts to provide guidance, help them integrate their systems with the bank's platform and also give them access to their network of customers.The bank will also allow funding upto $1 million through VC partners without any equity commitment equity commitment
"Yes Fintech Accelerator takes forward YES BANK's A.R.T model – Alliances, Relationships Technology to provide innovating banking solutions to our customers and provides startups a platform for creating sustainable and market ready products. We believe that the 15 week program will provide an ideal springboard for these 12 startups to graduate from innovative products to scalable businesses with access to Yes Bank's digital banking infrastructure as well as our robust customer network," said Rana Kapoor, chief executive, Yes Bank.
