Online submissions are invited for the FinBlue PitchFest 2023-24 for StartUps, Educators, Researchers, Pvt. Companies and more. The last date for the submission is Feb 15, 2024.
About FinBlue
FinBlue – A FinTech Centre of Entrepreneurship & Vibrant Start-up Eco-System – is an initiative by STPI at Chennai to help provide resources such as mentoring, technology support and funding for FinTech start-ups. FinBlue offers an integrated program for start-ups to scale up through its incubation facility. The FinBlue Incubation program includes premium plug-and-play co-working space for tech start-ups and offers access to the FinTech ecosystem which comprises user bankers, financial institutions, mentors, investors and a platform to support GoToMarket strategy through Industry Connect, Networking, Marketing, Investor Interface with Domestic and International collaborations.

Who can Apply?
- The start-up must be incorporated as a
- Private Limited Company (as defined in the Companies Act, 2013) or Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
- Limited Liability Partnership (under the Liability Partnership Act 2008) The date of registration/incorporation must not be beyond 10 years.
- Proposals/applications are invited from Indian startups who are working in FinTech domain-related software product development etc,
- Start-ups registered with DPIIT under the Start-up India programme are encouraged to participate in this programme.
- Individual Academicians, Researchers, Educators, Entrepreneurs, partnership firms, and LLPs may also participate, however, if they are selected they need to incorporate as Pvt. Ltd. company within 3 months of the offer.
Focus Areas
- TRADING
- BANKING
- LENDING
- REMITTANCE
- INSURANCE
- RISK AND COMPLIANCE
- WEALTH ADVISORY
- FINANCIAL INCLUSIONS
- SAVING
- PAYMENT
Selection Process
- To ensure that the best start-ups are selected, a rigorous & stringent screening process shall be followed.
- Designated committee(s) shall screen & evaluate the applications.
- The screening & evaluation may be multi-stage.
- The final set of companies shall present their business plan to the Selection Committee Panel.
Duration
- Start Date: 15th December, 2023
- End Date: 15th February, 2024
Offerings
FinBlue offers an integrated program for start-ups to scale up through the following:
- FinBlue SandBox
- FinBlue SandBox consists of API exchange, Core Banking Software (CBS), Low Code Software, Business Analytical and performance Monitoring Tools and cloud credits.
- FinBlue sandbox will provide real real-time environment to FinTech start-ups in developing and testing their prototypes to production-grade FinTech products.
- FinBlue sandbox API exchange is a comprehensive platform for to exchange of data between banks,
- Financial Institutions etc, Almost 800 banking APIs are available on this platform.
- FinBlue sandbox has been set up in the cloud environment to ensure its scalability and the same will be leveraged by the FinTech start-ups.
- FinBlue Market Place
- FinBlue Marketplace is part of the FinBlue Innovation Network and is designed for start-ups to Experience, Innovate and showcase their Solutions, Products and Services to the stakeholders / CIOs / CDOs from Financial Institutions.
- The prime objective is to bridge the gap between Buyers’ needs with the Financial Institutions and startups by creating an ecosystem across the world to become Global FinTech Start-up Hub (GFSH).
- This Marketplace will connect Industry, Investors, start-ups and Knowledge Partners.
- FinBlue Marketplace offers a unique opportunity to meet domestic & global buyers as well as funding support from Venture Capitalists (VC)
- Plug-n-Play Incubation
- The FinBlue Incubation program includes premium plug-and-play co-working space of up to 3 seats free of cost based on availability for selected FinBlue start-ups in Chennai.
- Mentorship
- Responsible for identifying domain-specific software tools and offering the same to start-ups.
- Deploying full-time resource presence and organizing peer meetings with mentors at regular intervals.
- Creating a platform for accessing the mentor through an online portal.
- Train/educate start-ups in the fields of research, user experience and business technology courses with cutting-edge programming and deep-tech applications.
- Support the start-ups in developing Proof of Concept, provide mentoring for designing & development and help start-ups to convert their idea into reality.
- Transforming the start-ups from idea level to Prototype level, Prototype level to MVP (Minimum Viable Product) level, MVP level to GTM level and graduating the start-ups into full-fledged company status.
- Providing a multidisciplinary approach to developing innovative products based on identified business challenges
- Support for developing, enhancing and piloting start-up prototypes and business models in a collaborative environment.
- Conducting needs-based mentoring sessions on legal, compliance, branding, cyber security, tech etc.
- Marketing
- FinBlue shall carry out effective marketing by organizing knowledge sessions, conducting road shows, creating the FinTech CoE web platform, organizing networking events, conducting social media marketing and connecting relevant service providers.
- International events/programs shall be organized to attract global visibility.
- Partnerships with key international promotional agencies shall be carried out for cross-border collaboration.
- Monitoring
- FinBlue shall review and monitor the progress/performance of start-ups periodically and take the necessary action as and when required in coordination with PMG.
- Additional Services
- STPI has signed a MoU with M/s NRDC (National Research and Development Corporation) for filing Intellectual Property Rights such as Patenting (Drafting and filing), Trademark, Copyright and any other IPR-related support/legal/statutory support.
- Funding and investment
- Up to 25 lakhs of Seed /Risk funding for promising start-ups and 2.5 lakhs as financial assistance grants for budding start-ups.
- FinBlue supports and guides start-ups in raising funds towards PoC, MVP and Marketing as well as scaling up through, equity and debt by leveraging connections with potential customers and CSR/Corporate sources as well as angels, High Net worth Individuals (HNIs) and VCs as per appropriate size of start-ups.
Terms & Conditions
- Start-ups can operate from a Remote location (Virtual Incubation) or FinBlue Incubation facility at STPI Chennai.
- The seats at the incubation facility can be availed free of cost to selected resident members.
- Each start-up has to offer an equity of up to 5% to STPI as per the present valuation.
- For more details visit here.
Timeline
- 15th December 2023: Application submission start date
- 15th February 2024: Application submission end date
- 22nd February 2024: Evaluation, Shortlisting & Selection
- 28th February 2024: Final Pitch in front of the Select Committee Panel
- 5th March 2024: Announcement of Result
How to Apply?
Interested candidates can directly apply through this link.
Deadline
15th February 2024