A Handshake season sees KSUM sparkles GITEX
With a slew of agreements with multi-crore business entities and recent display of strength at GITEX, KSUM poised to make quantum leaps
Thiruvananthapuram: Recently, Kerala Startup Mission (KSUM) signed a slew of agreements with IT top guns as part of expanding the startup ecosystem in the State. The government nodal agency for implementing the startup policy, signed a Letter of Intent (LoI) with the UK-based fintech major Finastra to build a partnership that will enable Kerala-based startups to tap the growing demand for technology and solutions by financial services across the world.
The LoI was signed between Dr. Saji Gopinath, CEO, KSUM and Mehjabeen Poonawala, India Country Head, Finastra at Technopark recently. The pact is aimed at creating an open innovation ecosystem that unlocks potential of fintech startups and co-creating solutions for the future financial services.
The collaboration will bring deep expertise and an unrivalled range of pre-integrated solutions spanning retail banking, transaction banking, lending, and treasury and capital markets. Syam S K, Finastra Centre Head, Thiruvananthapuram; Krishnakumar, HR Head, Finastra; Binish Moulana, Cloud Architect, Finastra; Arun Viswanath, Innovation In-Charge, Finastra; Ashok Kurian Panjikaran, Manager, Business Development, KSUM and Dhanaj, Assistant Manager, Startup Accelerator, KSUM were also present on the occasion.
With a global footprint and the broadest set of financial software solutions available on the market, Finastra has $1.9 billion in revenues, 10,000 employees and over 9,000 customers, including 90 of the top 100 banks globally.
KSUM, HDFC Bank Ink MoU to Support Startups
Kerala Startup Mission (KSUM) recently signed a memorandum of Understanding (MoU) with HDFC Bank to facilitate an array of banking services to startups in the State through its smart solution – SmartUp. SmartUp is leveraged to assist in achieving startup goals with smart financial tools, advisory services and technology.
HDFC Bank has developed a specialized end-to-end banking solution for startups, which includes corporate salary accounts, forex advisory services, payment and collections solutions and point of sale terminals (POS) at preferred rates among others. Dr. Saji Gopinath, CEO, KSUM, and Arun Mediratta, Branch Banking Head – South, HDFC Bank, signed the agreement at a function recently. As per the MoU, which has a time-frame of one year, KSUM will refer various startups to HDFC Bank to avail, inter-alia, financial and other facilities and HDFC Bank shall provide the necessary facilitation to the startups. “This initiative will help startups get support from HDFC Bank on evaluating their products, get market access and scale their product globally. We look forward to a fruitful association with them,” Dr. Gopinath said.
Mediratta said, “Through this tie-up, we will not only offer a host of banking services but also extend startups access to customers of HDFC Bank through the SmartBuy platform.” HDFC Bank would provide an opportunity for startups registered with KSUM to pitch their solutions to requisite stakeholders and will work towards providing them an opportunity to showcase their solutions. HDFC Bank will also extend incubation and acceleration support to all startups banking with them. HDFC Bank has third-party alliances to provide discounts for startups across key business support functions like shared work spaces, digital marketing, web services, patent filing and tax among others.
KSUM Showcases 18 Startups at GITEX technology week in Dubai
Kerala Startup Mission (KSUM) showcased as many as 18 startups at the 39th annual Gitex Technology Week at Dubai World Trade Centre recently. KSUM displayed the robust ecosystem prevailing in the State, looking for greater expansion and investor connect to the Middle East.
The KSUM pavilion hogged the limelight at the five-day GITEX 2019, with the help of innovative products and services generated by startups from various emerging technology domains. Out of the 18 startups, Travelspoc, Embright, Treseres and Globetec got selected to the semi-finals of Supernova Challenge, and Embright made it to the finals.
As many as 10 startups lapped up opportunities from investors, and 15 startups would connect with business institutions. Kerala was positioned as a corridor for Indian market and lot many startups from across the world came to know about the market access programme of KSUM.
KSUM, Bahrain Govt. Agency ink MoU
Bahrain: KSUM and Bahrain’s Economic Development Board (EDB), the Gulf State’s investment promotion agency, signed a Memorandum of Understanding (MoU) for jointly promoting innovation in Fintech, Information and Communications Technology (ICT) and other emerging IT fields. Ashok Kurian Panjikaran, Manager, Business Development, KSUM and Dharmi Magdani, Regional Director, India, Bahrain EDB, exchanged the MoU documents at the event.
The initiative will facilitate development and growth of Fintech and ICT startups and centres through support from technology hubs such as Bahrain Fintech Bay, Brinc Batelco IoT Accelerator, Flat6 Labs Bahrain, Brilliant Lab and KSUM Hub.
“Building a robust ecosystem where Fintech startups and IT firms can access and engage with critical soft infrastructure such as universities and financial institutions will be a key enabler for growth and innovation,” said Dr. Saji Gopinath, CEO, KSUM, commenting on the pact. “This is an excellent opportunity for Kerala startups to take advantage of Bahrain’s thriving ecosystem,” Magdani said. She added that there is no better destination for startups seeking to access and scale across the growing $1.5 trillion GCC markets.
Allianz Technology India Teams up with KSUM to Boost Kerala Startups
In a major development that would further give impetus to Kerala’s startup ecosystem, Allianz Technology India announced its collaboration with Kerala Startup Mission (KSUM) on Blockchain Knowledge City and startup accelerator.
The agreement in this connection was signed recently in a meeting between Dr. Christof Mascher, COO and Member of the Board of Management of Allianz SE and M Sivasankar IAS, Secretary, Department of IT & Electronics, Government of Kerala. Ashish Patel, CEO, Allianz Technology India; Jison John, CEO, Allianz Services India; Dr. Saji Gopinath, CEO, KSUM and Sasi P M, CEO, IT Parks Kerala were among the other dignitarites present on the occasion.
“As a responsible insurer, investor and employer, Allianz aims to contribute to the sustainable development of all markets we are present in, including the whole of India. Allianz is glad to be part of this initiative, which will widely and deeply benefit the IT ecosystem in Kerala, where we have been present for over 16 years. The collaboration between experts in startups, the academia, the government and corporates is an excellent model of an innovation economy. Ably supported by the government, I am confident that this will have a significant impact,” said Mascher.
Patel added, “The collaboration with the Kerala Startup Mission and the Kerala Blockchain Academy is a key milestone in our journey together. This is going to be a game changer for IT in Kerala as it provides a great opportunity for us to build expertise in next-generation technology, knowledge sharing and be a part of the transformational journey of IT in Kerala. I am very excited that our employees would not only benefit from this ecosystem but also have the opportunity to co-create.”