Kochi: The entrepreneurial ambitions of engineering graduates in Kerala will now get a cutting edge with the Startup Village rolling out its ‘FinTech Studio’ scheme, which provides new devices and tools for transforming their innovative ideas into reality.
In the first phase of the scheme in partnership with the Federal Bank, 40 teams comprising five students will be selected from colleges across Kerala. Every team will receive a ‘Startup Box’, each of which contains an iPhone 6, iPad mini, Macbook Air, Nexus 5, Kindle, 1 TB Hard disk and Arduino Starter Kit, besides a company registration deed, a bank account opening form and an application form for the state’s Student Entrepreneurship Policy.
‘Kerala Startup Mission’, earlier Technopark-TBI, in Thiruvananthapuram, will be the nodal agency for the programme while Startup Village in Kochi will be the implementing agency. The start-ups will get full incubation support from Startup Village and financial expertise from Federal Bank.
“The recently rolled out Kerala Technology Startup Policy envisions creating an entrepreneur-friendly ecosystem. Startup box is one among the State’s entrepreneurship-oriented initiatives for the financial year 2015-16,” said P H Kurian, Principal Secretary, IT. “The initiative will also help the students to get world class equipment’s for a digital technology startup.”
The first batch of the selected teams will have to work on the theme ‘FinTech’, which will focus on developing real-time technology solutions for the banking and financial industries. Each team is expected to develop a prototype of their idea/application on the given theme within a time span of six months, starting from July.
The selected teams are to be integrated with Startup Village’s Startup Studio ‘FinTech Accelerator Programme’, which is run in partnership with the Federal Bank. The incubator has also partnered with Tracxn Labs to identify potential FinTech ideas that the student teams can work on.
“This is a move in the right direction by the Kerala Government, given the vast pool of human capital held by the state,” said Antu Josepsh, GM (Products), Federal Bank. “With digital banking becoming a reality, we are looking to actively encourage and support innovative ideas of young students for our valued customers.”
Students’ team can apply online from today at startupstudio.co.in
Kerala Biz News