Fincubation: India's Top Incubator for Finance Companies Set Up by IIT & IIM Entrepreneurs
| Didhiti Ghosh, Bureau Chief, IOP, Kolkata - 13 Jun 2019

Fincubation: India's Top Incubator for Finance Companies Set Up by IIT & IIM Entrepreneurs

By Didhiti Ghosh, Bureau Chief (Kolkata), IOP

Kolkata, June 13, 2019: Kolkata gets its first Fintech incubator - Fincubation, an initiative by a group of IIT and IIM educated industry experts with over 100 years of cumulative experience in the domain of finance. The ‘fin’cubated companies will get industry expert's valuable lessons which they have learned the hard way in building up ventures and get access to over 1 million users on-boarded by the existing operating products.

The platform will be helping the first-time entrepreneurs in ideation, feasibility testing, developing and validating business plans, business and entrepreneurship training, networking opportunities and fundraising.

Fincubation provides the startups with resources such as co-working spaces and locations with powerful computers, latest configurations of high-speed connectivity, 24/7 power backup, IT support team, spacious work areas, conference halls and meeting rooms, apart from mentorship and guidance.

The NASSCOM-incubated start-up Findvise Services Pvt Ltd is already getting incubated by Fincubation. Findvise, a financial planning and investment advisory provides automated financial solutions with data and behavioural analysis through its application. 

Launched in January 2018, the smart Robo advisory platform aims to mitigate the challenges faced by the medium and lower income groups in India that bars them from meeting their financial aspirations. Within the time span of a year, Findvise finds itself among four novel start-ups from the Eastern part of India selected for NASSCOM’s first accelerator program. Findvise has been ranked among the top 10 most promising Fintech start-ups by FICCI Launchpad, the American Consulate, Silicon Valley India, NASSCOM and many others. 

Commenting on this initiative, Mr Vivek Bajaj, MD Kredent InfoEdge remarked, “We believe that the concept of financial inclusion in our country has just begun and the need of the moment concerns more tech-enabled solution providers to cater to various needs of retail participants. Through this initiative, we are not just helping deserving entrepreneurs to reach out to the target but also building an entire ecosystem around our products, which is helping our growing user base to receive more value.”

The same is a clear win-win situation for everyone, Bajaj affirmed. At the same time, being selective in the process will help amplify bridging strategies with others having a vision of simplifying finance for everyone, he said.

In Image: Vivek Bajaj, Kaushik Sur, Vinay Pagaria, Vineet Patawari

(DIDHITI GHOSH is an India Columnist at La Agencia Mundial de Prensa, USA, and is the Bureau Chief of Indian Observer Post based in Kolkata. E-mail: didhiti.24@gmail.com | LinkedIn: https://bit.ly/2H6gNAv).


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