The startups will undergo a 12-week program with access to technology and legal guidance and help with fund-raising.

FinTech Valley Vizag launches accelerator program picks eight startups for first batch
Atom Startups Monday, October 16, 2017 - 09:29

The Andhra Pradesh government supported financial technology-focused eco-system, Fintech Valley Vizag in conducting its first accelerator programme with eight start-ups. These new eight were selected from 20, which were shortlisted, through a process of personal interactions with the startups.  

The accelerator programme envisages a 12-week residential orientation and the attendees will be provided access to technology and guidance on fund-raising and on matters legal. In addition, each of them will also be eligible for a Rs. 4 lakh grant. The selected startups are operating in different domains. A brief sketch of those eight companies are as below:

GyanDhan: This specialises in syndicating overseas education loans and students can access the different funding options to fund their higher education.

Moneytor: This is a Mumbai-based company working towards improving the efficiency of the stressed receivables recovery market using machine learning technologies.

Incremint: Incremint runs an online platform for financial products which can be cross-sold on their site by different financial advisors. They are headquartered in Delhi.

TAQBit: Based out of Bangalore, TAQBit is into cybersecurity solutions for enterprises and uses quantum technology to build their products in this space.

iProov: This is a London based startup and its special capabilities include face recognition-based authentication solutions and some of the vertical they are associated with include healthcare, ecommerce and financial services.

Nanobi: Business analytics is this company’s forte and they focus on the SME sector to offer their services.

FingPay: This startup is also based out of Mumbai and facilitates point of sales payments through e-wallets or even bank accounts by using finger scan.

Heckyl Technologies: They are also in the same analytics space, offering data analytics of both structured and unstructured data. Financial institutions can also draw on their high-end analytics capabilities.

Fintech is one area the government of Andhra Pradesh appears to be keen on developing in the state and is even working towards creating a fintech fund for this purpose.

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