Mumbai: Maharashtra government has commenced its ‘Mumbai Fintech Accelerator Program’ by announcing names of the first set of startups selected under the programme. From 200 applications, 13 startups were shortlisted for the accelerator programme.
Under this programme, the state government is offering fiscal and non-fiscal incentives to start-ups; support and foster innovations that will enable financial empowerment. SVR Srinivas, Principal Secretary, Directorate of Information Technology, Government of Maharashtra, said, “The future of finance is technology and we want to encourage such eco-system. We (government) want to be an eco-system builder.”
In this three-month programme, the shortlisted startups – Bon Fleet, OneWallet, HuePay, PhiCommerce, GoPlannr, M2P, MicroChippayments, Monitree, Riskcovry, Finlok, Credible, Finvu and News4Use – will fine-tune their business model in consultation with mentors. At the function, 10 start-ups were awarded a state grant of Rs 10 lakh.
The start-ups included Eduvanz, Swipez, Sevenring, Cashrich, Digital Fifth, Rockmetric, Jai Kisan, Credible, Healthfin, Finlok. Earlier this year, Maharashtra announced a dedicated Fintech Policy, under which it plans to facilitate the establishment of 300 start-ups and a corpus fund of Rs 200 crore for the fintech sector in the next three years.
Swiss firm, Maha govt ink MoU
Switzerland Global Enterprise signs Memorandum of Understanding (MoU) with Maharashtra govt to allow Swiss and Indian talents to share their experiences and learning with each other. Speaking to Free Press Journal, Othmar Hardegger, Consul General, Switzerland, said, “We are trying to get India and Switzerland together through such activities.”
He added that more than 50 Swiss talents have already come to India to understand fintech space. Many such delegations can be expected in time to come. Hardegger revealed that this agreement will look at developing and understanding blockchain technology which is of interest to Switzerland.