YES Bank launches YES FINTECH Accelerator in partnership with T-Hub and Anthill, with Let’s Talk Payments as a knowledge partner. The program is creating a platform for the bank and Fintech startups to co-create innovative solutions and together take the solution to the bank’s vast retail and corporate customer database.
Anthill, a city based venture capitalist firm, aids early stage startups to grow and not stop due to funding issues. Anthill’s Speed Scaling Platform identifies startups with high SQTM during the Pre-Series A stage and then they conduct a Speed Scale Diagnostic to understand the gaps in Scalability. Anthill then provides the Speed Scaling Interventions to take the startup to Series A within 12 months.
On the other hand, we all know YES bank, a leading bank and leading financial service provider. YES FINTECH is a platform for the bank and Fintech startups to co-create innovative solutions and partner in taking the solution to the bank’s retail and corporate customers. This is a unique program – with no upfront equity commitment sought from startups, clear focus on building solutions relevant to use-cases identified by YES BANK and providing Fintech startups access to YES BANK’s 2 million+ customer base.
This accelerator program has its focus mainly on the below themes and startups revolving around these themes –
- Big Data and Analytics
- Forex and treasury
- Customer and value added services
- Trade Finances
The Accelerator Structure
The program is designed to go on for 15 week and is spread across to happen in four phases with 3 weeks of on-site interventions and 11 weeks off-site interventions, with each stage focusing on creating a market-ready product and a sustainable business model. The best part? While the startups participate in this program, they can continue to concentrate on their core business as well. The structure is as under –
- Co – create: Startup and YES FINTECH will validate the applicability of the value proposition to the Focus Areas, and co-create a customized scale up plan
- Operate: Product refinement with real customer data and create a platform for market testing & validation
- Scale: Focus on customer engagement, acquisition and a scalable model – along with VC interactions
- Invest and Grow: 15 week cohort concludes with demo day & pitch clinic
What’s in it for the startup participants?
While you choose to participate in this accelerator program, you will get –
- Market access to 2 million customers
- Mentorship and guidance at every step
- Global outreach
- Dual mode multi location program with online and offline interventions in Hyderabad, Mumbai and you base location
- Access to T-Hub startup ecosystem
- Showcase and visibility
- Compliance and regulatory guidance
Mentors and Experts
The chief mentor of this program is Rana Kapoor – Managing Director and CEO, YES Bank. The other expert panel includes –
- Devie Mohan – FinTech Market Strategist
- Alok Mittal – Co – founder and CEO of Indifi
- Sasha Mirchandani – MD and Founder of Kae Capital
Details of the program
As mentioned above, the sessions are going to happen in 3 phases –
- Session 1 – 13th – 17th March 2017 in Mumbai
- Session 2 – 15th – 19th May 2017, Hyderabad
- Session 3 – 20th June 2017, Mumbai
- Application Phase: Jan 9th to Feb 3rd 2017
- Pitch to YES Fintech Board: Feb 15th and 16th 2017
- Mentor Matchmaking: March 1st 2017
- Cohort Launch: March 13th 2017
- Demo Day: June 21st and 22nd 2017
Apply today as the last date for applying is Feb 3rd. You can apply here!