Mumbai: India FinTech Pageant (IFF) 2020, India’s first homegrown international platform to drive Fintech innovation within the nation has opened functions for its marquee present ‘FInD the subsequent Unicorn’, giving an opportunity to Indian client fintech startups to identify elevate pre Sequence A as much as USD 1M.
IFF 2020 is being offered by Mumbai Fintech Hub (Authorities of Maharashtra), Ministry of Electronics and Info Expertise (MeitY), Nationwide Funds Company of India (NPCI) and Fintech Convergence Council (FCC) on March four and 5 at MMRDA grounds, Bandra Kurla Advanced. The occasion is supported by Division of Monetary Providers, NITI Aayog, Make investments India, Digital India, World Financial institution and UNCDF (United Nations Capital Growth Fund). Medici is this system companion for the IFF 2020.
Related in idea to the favored American TV sequence Shark Tank, ‘FInD the subsequent Unicorn’ is a fast-paced, enterprise actuality occasion to showcase India’s high ten early-stage FinTech startups trying to elevate funding from a panel of 5 marquee traders.
The eligibility standards for the appliance consists of:
Have to be an India-based start-up
Ought to be in search of lower than or equal to $1M
Should have a consumer-facing product
No ideation stage, will need to have a product
Should have some constructive income technology
A 5 member jury is to shortlist 20 candidates for a closed door semifinal, slated to be held in mid-February in Mumbai. Of the 20 startups, 10 can be chosen to current their concept on the finale to be held on the India Fintech Pageant on March 5.
“India has been residence to 25 Unicorns and we imagine that the zest from the fintech startup ecosystem will assist us uncover extra start-ups that may take the quantity to 100 by 2025. FInD the subsequent Unicorn is borne out of this zeal to find such concepts and folks and take them to the subsequent stage. Along with the spot funding dedication, FInD the Subsequent Unicorn may even give an enormous publicity to those startups by bringing them to the centre stage of the fintech ecosystem and assist them get seen by extra traders who’re keen to help them,” mentioned Suniti Nanda, Fintech Officer, Mumbai Fintech Hub, Authorities of Maharashtra.
Through the finale every of the 10 shortlisted startups will get 10 minutes to current their concepts to an viewers of 1,500 individuals and spot pitch to a marquee investor panel of 5 members together with the likes of Mr. Amrish Rau, India CEO of PayU and Mr. Sanjay Mehta, Founder and Companion of 100x.vc.
An on-the-spot funding dedication of as much as $1M can be made by the panel within the startup whose concept is discovered to be essentially the most convincing.
With 100+ audio system, 5000+ attendees, 25+ taking part nations, India FinTech Pageant 2020 is the largest homegrown fintech occasion within the nation. The occasion serves as a illustration of the very best of the improvements of over 2000+ Indian startups working to make India a $5 trillion financial system by 2024, as a result of vital facet monetary companies play within the progress of an financial system.