Kotak Securities dives into the startup world – launches an investment programme for fintech cos with an initial fund of ₹50 crore
Kotak Securitieshas launched the Start-up Investment and Engagement Programme, with an initial investment of ₹50 crore.
- Through the programme, the company will invest in and incubate
startupsin the financial technology space.
- The focus will be on early-stage startups.
“Broking and distribution business has become more of a technology play, and this has gained further prominence in the new normal. We strongly believe technology innovation will gauge the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in
The broking industry has seen an influx of tech-driven companies with the likes of Zerodha, Angel Broking, ShareKhan’s Espresso betting on the digital approach.
With this, Kotak Securities also joins the long list of financial institutions in India, who run accelerator and incubation programmes in the country. While YES Bank runs its YES Fintech accelerator, State Bank of India runs the SBI Fintech Innovation Incubation Program, HDFC Bank has partnered with United Kingdom’s Department for International Trade and Indian accelerators to run a similar program, among others.
The company will also organise hackathons, networking events, pitching sessions, and demo days for entrepreneurs. The focus will be on early-stage startups in the fintech space.
“While we get access to some exciting technology plays, start-ups get the advantage of product validation, mentorship and institutional capital,” said Shripal Shah, President – Head Operations, Finance and Technology, Kotak Securities in a statement.
AdvertisementThe company will be taking in applications through a dedicated section on its website for the programme.
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