Citi selects WUS, IIT Kanpur startup, for Acceleration program

AgenciesUpdated: Wednesday, April 06, 2022, 11:47 AM IST
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As part of the program, WUS will be receiving mentoring, go-to-market strategy, Seed funding, and network and scaling opportunities. /Representative image |

WUS- a SAAS based start-up - is building a digital platform to provide financial security, job security and social security to ''Low-income workers'', simultaneously offering a significant return to potential investors by monetizing the services provided to the target audience.

WUS is incubated at IIT Kanpur and the National Centre of Excellence for Cybersecurity Technology Development (N-CoE) - a joint initiative conceptualized by the Ministry of Electronics & IT (MeitY) and the Data Security Council of India (DSCI).

WUS got selected for the Acceleration program by Citi's Social Innovation Lab. As part of the program, WUS will be receiving mentoring, go-to-market strategy, Seed funding, and network and scaling opportunities. Nandan Nilekani, Co-Founder and Chairman of Infosys and ex-chairman - Unique Identification Authority of India (UIDAI) inaugurated this program.

Citi, the Indian Institute of Technology Kanpur (IIT Kanpur), and T-Hub, a technology incubator, have onboarded 29 startups under the Social Innovation Lab by Citi. The program aims to support innovations with a positive impact on society across AgriTech, HealthTech, and FinTech domains.

Vinayak Godse, Senior Vice President at the Data Security Council of India, said, ''We are happy with WUS's work as it is developing security technology for the citizens and workers. With 43 incubated startups (WUS being one of them) and supporting 100+ start-ups, we aim to make India a hub of cybersecurity innovation.” Prasoon Sharma, Founder and CEO of WUS, said that WUS had achieved access to 40 million workers (scalable up to 450 million) and funding from the Department of Science & Technology, India and the Ministry of Electronics and Information Technology, India.

Ashwani Singh, Co-Founder and CTO of WUS, said, ''WUS microfinance solutions provide loans, insurance and digital payments to ''Low-Income workers''. Previously, The Nasdaq Entrepreneurial Centre selected WUS, an IIT Kanpur startup, for the Milestone Makers cohorts Spring 2021, which selected a small group of leading global startup founders working on the UN's Sustainable Development Goals (SDG's) around reducing inequalities.

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