IIM-Ahmedabad’s technology business incubator CIIE (Centre for Innovation, Incubation and Entrepreneurship) is collaborating with Citi on the Citi Mobile Challenge 2015. The Citi Mobile Challenge is the next generation accelerator program that combines a virtual hackathon with an incubator, a worldwide network of financial technology experts and Citi’s global sponsors and clients. The challenge is calling on developers across Asia Pacific to participate.
Commenting on the collaboration, Maneesh Bhandari, Director - Pune Operations, CIIE, said, “CIIE has defined its ICT (Information and Communications Technology) focus in key areas such as financial technology, payments, cloud computing, analytics, IoT (Internet of Things) and mobility. Building on the legacy of CIIE IIM-A’s iAccelerator, India’s oldest and longest running start-up accelerator program, we intend to facilitate the next big Mobile and FinTech innovation, as a sponsor with the Citi Mobile Challenge.”
A part of Citi’s drive to foster digital and mobile innovation in banking, the challenge is designed as a virtual accelerator with a robust curriculum and mentorship program aimed to inspire developers to re-imagine mobile banking. Finalists will have the opportunity to showcase their ideas and stimulate digital progress in the industry.
Further, finalists compete for a share of $1lakh in cash awards, an opportunity to take their technologies into production with Citi's support and a suite of services from Citi Mobile Challenge sponsors, including accelerator programs, mentoring, office space and investment.
One of the finalists from the Citi Mobile Challenge will be invited into CIIE’s iAccelerator program, where they will be provided with incubation, mentoring and assistance in raising subsequent financing. This support will be available to only those start-ups that are registered in India.
“To empower start-ups in these areas, CIIE partners with some of the best global product corporates to help start-ups with go-to market partnerships, strategies, early adopters and feedback on product-market fit,” adds Bhandari
To build on this, CIIE has run a series of successful Growth Camp events, which is their flagship national level corporate start-up connect platform. They have also partnered with Intel and the Department of Science and Technology for the “Innovate for Digital India Challenge”, the acceleration stage of which is currently underway at CIIE’s Pune center.