Fintech Valley Vizag Goes Live with the Fintech Valley Accelerator Program
This will be a resident program based out of Visakhapatnam and will provide selected Fintech startups an opportunity to catalyze their development through a combination of support, guidance and training.
Fintech Valley in Vizag, a sustainable global Fintech ecosystem today announced the establishment of government sponsored “Fintech Valley Accelerator” at Visakhapatnam in collaboration with ICICI Bank and Mahindra Finance as corporate partners and Microsoft as the technology & acceleration partner. Fintech Valley in Vizag created by APEITA, Government of Andhra Pradesh, is a self-sustainable global Fintech Ecosystem that focuses on converging finance and technology to create large avenues of growth through industry-enablers, world-class infrastructure, entrepreneurship and innovation.
ICICI Bank and Mahindra Finance have always leveraged technology to pioneer digital innovations and provide world-class banking experience to their customers. These institutions are focused on leveraging the current transformational trends in technology to bring value to their offerings. The first cohort of the accelerator program will have 10-12 startups working to develop solutions for “Financial Inclusion”, “Security and Fraud Prevention” and “Customer and Risk analytics” for a period of 12 weeks. This will be a resident program based out of Visakhapatnam and will provide selected Fintech startups an opportunity to catalyze their development through a combination of support, guidance and training.
The recruitment process for the accelerator has commenced, and the first cohort will start in first week of October. The program will conclude with a grand demo day in January 2018, in presence of corporates, mentors and investors from across the world. This is in continuation of the vision of the AP Government to bring ecosystem players together in the Fintech Valley and nurture a ‘fintectonic’ culture in the state that enables traditional models of business. The accelerator program aims to act as a catalyst in the growth of startups by connecting them to Fintech ecosystem players and develop the startup community in Visakhapatnam.
Mr. J A Chowdhary, Special Chief Secretary & IT Advisor to the Chief Minister - Govt. of AP. - Government of Andhra Pradesh said, “The Andhra Pradesh Government and Fintech Valley Vizag is excited about the Fintech Valley Vizag is all set to converge finance and technology and create large avenues of growth. The accelerator program aims to act as a catalyst in the growth of startups by connecting them to the leading Fintech ecosystem players.