Ten start-ups have been short-listed by T-Hub for the fintech accelerator programme that was launched in November in partnership with National Payments Corporation of India (NPCI) and Department of Science and Technology (DST).
The programme is designed to enhance faster product development and scale-up the short-listed start-ups. It will be offered in virtual mode due to the current COVID-19 situation, T-Hub said on Friday.
In a release, the technology start-up incubator said 20 start-ups were selected from over 150 applications received from across the country. The short-listed start-ups will receive training and guidance from T-Hub and NPCI through a curriculum of activities, specifically designed to support product development and growth in digital payments.
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They will have access to NPCI retail payments APIs for product development and T-Hub’s network of mentors, industry experts, investors, service providers and the community.
Some additional benefits include benefit from Go-to-Market support during the acceleration phase, and opportunity to showcase their solution to industry experts and the ecosystem during the Fintech Accelerator Demo Day scheduled in July.
T-Hub CEO Ravi Narayan said, “India’s digital payment landscape has grown steadily over the years. Owing to the current pandemic, there has been a fundamental slowdown of transactions at all levels. But all that will fundamentally change. We consider this an opportunity. not only to support these deserving start-ups...”
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The ten short-listed start-ups and their solutions are: Stackbox Services (payment system in logistics domain); AShield Technologies (cybersecurity for payments); ChitMonks (Blockchain network for chit funds); Kaleidofin (intuitive and tailored financial solutions); Whrrl (agri-finance on Blockchain); Param Network India LLP (Blockchain for e-Invoicing); Syntizen Technologies (Aadhaar details - compliance solution); CityCash (micro-payment solution); SimplyFI Softech India (Blockchain-based working capital loan enabler); Mobile First Finance (mobile-first fintech application for NBFCs).