BITS Pilani, RBI, ICICI Bank launch fintech accelerator programme for startups

NEW DELHI: Pilani Innovation and Entrepreneurship Development Society (PIEDS), BITS Pilani in partnership with Reserve Bank Innovation Hub (RBIH) and ICICI Bank has announced the launch of an initiative to accelerate fintech start-ups ‘FinXcelerator’.

The 45-day accelerator programme will offer selected startups several services, including mentoring, personalised support, and opportunities for pilot projects with ICICI bank and other corporate firms. Keynote sessions, panel discussions, networking meet ups and a demo day for startups to showcase innovations to potential investors and stakeholders will also be held during the programme.

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The online application window for FinXcelerator will be open till September 24. After the submission period, applications will be evaluated, and tailored goals will be set for each selected startup.

Rajesh Bansal, CEO, RBIH, said, "We are pleased to collaborate with PIEDS-BITS Pilani and ICICI Bank for FinXcelerator. This endeavour will help drive innovation in financial services, thus paving the way for a vibrant fintech ecosystem in India".

ICICI Bank will provide selected start ups with curated mentorship, master classes and accelerated opportunities to design solutions to entrepreneurs. The Bank will also provide access to its API library.

The RBIH, a wholly owned subsidiary of the Reserve Bank of India, promotes and facilitates innovation across the financial sector. The PIEDS, the start-up cell of BITS, Pilani, specialises in incubation, acceleration, and funding for startups.