Got a chance to be a part of the launch of “Thought Factory” by AXIS Bank. Thought factory is all about bringing banking and innovation together to bring something unique.
Axis Bank has partnered with internet giant Amazon‘s Indian arm and also Singapore based Overseas Chinese Banking Corp‘s unit to help Indian start-ups with their technology related questions. They have launched a new innovation lab, becoming the first domestic bank to do so in India. Axis Bank is providing exposure to startups by helping them incubate and raise capital as well.
The Bengaluru based center called Thought Factory will help Indian start-ups interact with Amazon to get solutions to their questions regarding technology at no cost. The Bank has partnered with Zone Startups to run the Accelerator program.
Axis Bank is giving a chance for startups to learn from industry experts & be a part of banking revolution. A wonderful initiative to help startups to turn ideas into reality. It has also partnered with global cards and payment company Visa to help start-ups drive innovation in payments.
The innovation lab is aimed at accelerating the development of innovative technology solutions for the banking sector and is expected to work closely with the start-up community. The innovation lab features an in-house team and a dedicated three-month long accelerator program.
Rajiv Anand, Executive Director, retail banking at Axis Bank, describes the project as “an endeavor to build on the ideas of innovators that can radically change consumers’ life in banking and beyond”.
Commenting on the launch, Rajiv Anand said, “We are excited about the way financial industry is evolving and how millennial are reimagining the industry. ‘Thought Factory’, our innovation lab is an endeavor to build on the ideas of innovators that can radically change consumers life in Banking and beyond. With this initiative, we are creating a vibrant ecosystem of Global Banks, startups & tech innovators.”
Shortlisted participants from the accelerator program will be taken through a structured mentor-ship program for fine-tuning, validating and scaling their business.
At the end of the program, an investor day will be organized, to facilitate funding for the shortlisted start-ups. Axis Bank might itself invest in selected start-ups, before the investor day.
Here are the list of Mentors who will be helping all the startup(s) with their questions and queries.
- Amit Sethi – CIO, AXIS Bank
- Balaji N – Head – Business Intelligence Unit, AXIS Bank
- Modan Saha – Head – Corporate Strategy, AXIS Bank
- Sangram Singh – Head – Cards & Payments, AXIS Bank
- Tanu Bhargava – Head – New Economy Group, AXIS Bank
- Jagdeep Mallareddy – Head – Retail Lending & Payments, AXIS Bank
- Shishir Mankad – Head – Transaction Banking Products, Corporate & FI, AXIS Bank
- Thiyagarajan M – Fellow – M&A connect, iSPIRT
- Sharad Sharma – Founder, iSPIRT
- Sanjay Swamy – Partner, Prime VP
- Sijo Kuruvilla George- Founding CEO, Startup Village
- Pallav Nadhani – Founder, Fusion Charts
- Deepak Ravindran – Founder, Lookup
- Praveen Hari – Founder, Thinkflow
- Sony Joy – Founder, Chillr
- Deepak Agarwal – AVP, Hive Data
- Sainath Gupta – Founder & CEO, Asaanpay
- Ashish R Bedekar – Head, Mediatek Labs (India)
- Siva Ramamoorthy – Head – India Operations, Ephicacy Lifescience Analytics
Thought Factory is the place where UnImagined is Undone.
Do check out the pre-requisite for the company which can apply for Thought Factor:
- Your startup must be a registered Indian company with an MVP.
- We want to explore following technical areas:
- Artificial intelligence
- Big data and analytic
- Open API
- This is not an exclusive list. Companies operating in other domains can also apply.
Check out the video featuring Rajiv Anand, Axis bank Exec Director & CIO, introducing the #AXISThoughtFactory and inviting startups and entrepreneurs to come and join.