Fincubation is a fintech incubator and accelerator founded and mentored by a group of IIT and IIM educated entrepreneurs
Kolkata gets its first Fintech incubator, Fincubation, an initiative by a group of IIT and IIM-graduated industry experts with over 100 years of cumulative experience in the finance domain. The ‘Fincubated’ companies will get valuable lessons from industry experts, who have learnt to build their own ventures the hard way, and will also get access to a user base of over 1 million from the existing operating products.
The platform will help first-time entrepreneurs in ideation, feasibility testing, developing and validating business plans, business and entrepreneurship training, networking opportunities and fund-raising. Along with mentorship and guidance, Fincubation provides start-ups with resources, such as co-working spaces to both locations with powerful computers, the latest configurations, high-speed connectivity, 24×7 power back-up, IT support team, spacious work areas, conference halls and meeting rooms.
Project on hand
NASSCOM incubated robo advisory start-up Findvise Services Pvt. Ltd is already getting incubated by Fincubation. Findvise is a financial planning and investment advisory providing automated financial solutions with data and behavioral analysis through its app. Launched in January 2018, this smart robo advisory platform aims at mitigating the challenges faced by medium- and lower-income groups in India that bar them from meeting their financial aspirations.
Within just a year, Findvise is among the four start-ups from eastern India selected for Nasscom’s first accelerator programme. Findvise ranked in the Top 10 most-promising fintech start-ups by FICCI start-up Launchpad, the American consulate, Silicon Valley-India, Nasscom and many others.
‘We believe financial inclusion in our country has just begun and we need more and more tech-enabled solution providers to cater to the various needs of retail participants. Through this initiative, we’re not just helping deserving entrepreneurs reach critical masses, but also building an entire ecosystem around our products, which is helping our growing user base to get more value from us — a clear win-win situation for everyone. We’re very careful in our selection process and we’d like to work with people who share a similar passion for simplifying finance for everyone’
— Vivek Bajaj, Managing Director, Kredent InfoEdge