Maharashtra CM Inaugurates ISME and ISME Ace (Fintech Accelerator) Set up by Radha Kapoor Khanna and TTSIO
ISME Accelerator Will Run A Four-Month Programme For Fintech Startups
The Indian School of Management and Entrepreneurship ISME has announced the launch of a new accelerator headed by YES Bank chief Rana Kapoor’s daughter Radha Kapoor Khanna.
The programme called ISM ACE has been launched for fintech startups in Mumbai. YES Bank chief Rana Kapoor’s daughters manage ISME under holding company DOIT Group, as part of The Three Sisters Institutional Office. The three sisters Roshini, Rakhee and Radha manage the Indian School of Design and Innovation.
The Kapoor sisters also plan on initiating a specialised culinary incubator for entrepreneurs looking to dabble in artisanal and innovative food concepts space. The incubator aims to be operational over 2018 or so. Gourmet food bazaars which realize the farm-to-table concept, pop-up restaurants and shared kitchen spaces are some of the areas the incubator is willing to explore.
Along with the specialized accelerator program, Kapoor also announced the launch of $15.5 Mn (INR 100 Cr) fund aimed at early-stage startups.The Category 1 AIF (Alternative Investment Fund) will function independent of The Three Sisters and cater in the fintech space.
Key Features Of ISME ACE Accelerator For Fintech Startups
ISME ACE aims to be a launching pad for early-stage fintech startups. These startups would have products and solutions built for scale and utilised in traditional capacities too. ISME has roped in IBM, Microsoft, Amazon Web Services to partner in providing support to the startups. For mentoring and funding support, IAN and LetsVenture have come onboard for fintech startups looking for follow-on capital.
The fintech accelerator programme will run for four months. Startups operating in areas such as payments, security, investment tech, insurance tech, consumer finance(including lending), blockchain etc. will be considered for the programme. The programme looks to offer selected startups a minimum capital of $100K to help with the deployment and scale of the products and solutions.
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