A ‘Startup Box’ consisting of new devices and tools will be supplied to student teams as part of the Kochi Startup Village’s ‘FinTech Studio’ scheme that aims at transforming their innovative ideas into reality.
A release issued here said that 40 teams comprising five students each will be selected from colleges across the State in the first phase of the scheme being rolled out in partnership with Federal Bank.
Every team will receive a ‘Startup Box’, each of which contains an iPhone 6, iPad mini, Macbook Air, Nexus 5, Kindle, 1 TB Hard disk and Arduino Starter Kit, besides a company registration deed, a bank account opening form and an application form under the State’s Student Entrepreneurship Policy.
Technopark-TBI at Thiruvananthapuram will be the nodal agency for the programme while Startup Village in Kochi will be the implementing agency. “Startup Box is one among the State’s entrepreneurship-oriented initiatives for the financial year 2015-16. It will help the students to get world class equipment for a digital technology startup,” said P. H. Kurian, Principal Secretary, Industries and IT.
The first batch of the selected teams will have to work on the theme ‘FinTech’, which will focus on developing real-time technology solutions for the banking and financial industries. Each team is expected to develop a prototype of their idea/application on the given theme within a time span of 6 months, starting July.
The team will ideally consist of members with skills in programming, designing, operations and governance.
The selected teams are to be integrated with Startup Village’s Startup Studio ‘FinTech Accelerator Programme’. The incubator has also partnered with Tracxn Labs to identify potential FinTech ideas that the student teams can work on.