Aditya Birla BizLabs Fintech 2019 is inviting startups with innovative solutions to collaborate with Aditya Birla Capital and scale up in just 90 daysJerlin Justus
Do you have an innovative solution that can track a customer's credit profile using multiple data sources, identify potential defaulters and suggest early pre-emptive measures? Can your AI/Blockchain-enabled solution validate claims, detect frauds, support robo advisory, underwrite loans in real-time or improve sales force productivity? Or do you have any other solution that can similarly disrupt the financial services space?
If yes, then Aditya Birla BizLabs is the perfect platform for you to showcase these disruptive solutions for real business challenges. While there are several incubators and accelerators in the fintech space to nurture and support your startup, BizLabs is different because it focuses more on problem statements. So participating startups have a real chance of working on live problems and can scale disruptive tech-led solutions in financial services. BizLabs also has an agile process and commits to definite timelines for collaborating, so that startups get closure.
The right track to co-create innovative financial solutions
A flagship property of the Aditya Birla Group, over the years BizLabs has given startups access to its global reach and business expertise, enabling them to enter the market, grow their customer base, and rapidly scale. Earlier, they were looking for innovative solutions that were open-ended, but this year, BizLabs is focusing on addressing specific problems faced by their group of companies. They are inviting startups with a proven concept to solve business challenges of the Group’s financial services arm, Aditya Birla Capital. In the process, startups get an opportunity to test their proposition on a commercial scale along with the prospect of potential investment.
Aditya Birla Capital is one of India’s largest financial conglomerates with assets under management of more than Rs 3 trillion, a consolidated lending book of over Rs 630 billion and total insurance premium of more than Rs 80 billion. The organisation has a base of over 10 million active customers including 15,000 SME and MSME clients which are served through 2 lakh channel partners present across 400+ cities.
Focus areas for collaboration
BizLabs is looking for startups with a solution for any of the problem statements mentioned under these four categories:
- InsurTech - Underwriting, life insurance claims, health insurance claims, health and wellness, salesforce recruitment, virtual business partner
- Investing, Asset Management, Wealth and Securities Tech - Customer onboarding, robo-advisory, E2E digital broking
- Lending Tech - Credit underwriting, segment-specific digital lending solutions, early warning system
- Analytics and Productivity Tech - Customer analytics for optimal recommendation, salesforce productivity, virtual finance office for customers, employee tech, digital infrastructure management, cybersecurity
If you have an existing product or solution, or a commercial proof of concept for the above-mentioned problems, you can apply. BizLabs is looking for startups who have a passionate team, a differentiated value proposition and a growing customer base to work with.
Reasons why you should apply
- Aditya Birla Capital’s scale and reach
- Business CXOs on Day 1
- Pilot opportunity at Aditya Birla Capital within 90 days
- VCs/Investment ecosystem
- Potential investment from Aditya Birla Group
Application timeline for 2019
1. Registrations close – 14 August
Startups have to login to the website, submit the form and upload their pitch deck before August 14, 2019 11:59 PM GMT.
2. Shortlisting – 6 September
Experts will review and select the shortlisted startups.
3. BizCXO Day – 16-20 September
The finalists will present their ideas to business leaders in Mumbai. Select startups will get the chance to interact with CXOs and business teams to plan pilots for market access and scaling.
4. BizDirector Day - 5 October
At the grand finale in Mumbai, startups will present to top management and industry experts, and get to interact with potential customers and investors.
Through this collaboration, you get to build a long-term commercial association with the Aditya Birla brand. Last year, BizLabs shortlisted 90 companies from over 2,000 applications. More than 20 of these startups are still collaborating with the Group for scaling up. This year, you could be one of them.