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Tuesday, September, 27, 2022

Press Release

Marwari Catalysts Announces Corporate FinTech Accelerator Cohort Program, ‘THRIVE 5.0’ in Association with Kumbhat Advisors and ENNENN Group
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Opportunity may come knocking, but with innovation leading the way, opportunity is bound to keep finding the door again and again. Its why Marwari Catalysts has joined hands with Kumbhat Advisors & ENNENN Group and invites the boldest and brightest FinTech innovators through its doors with its accelerator cohort program, ‘Thrive 5.0’. 
 

FinTech Accelerator Cohort Program – ‘Thrive 5.0’
 

India’s financial technology (fintech) sector is growing rapidly, and this accelerator cohort program will assist fintech start-ups with product-market-fit guidance, wide access to global audience and accelerated joint go-to-market within 10 weeks.
 

Following the success of the last cohorts with EdTech and D2C startups, Marwari Catalysts is extremely delighted to support another group of extraordinary entrepreneurs with the launch of their next batch of virtual accelerator cohort program.

 

Thrive is backed up by some of India’s leading AIFs, VCs and Angel Networks that will participate during the Demo Day process.

 

The accelerator in a press statement says that 6-8 high potential startups will be selected to take part in the 10-week program for which the application process begins from 15 December, 2021.
 

The cohort also includes investment opportunities up to $75K-$300K for qualified startups and will get access to one-on-one mentoring sessions, networking opportunities, funding investment advice, strategy-and-skill development, marketing & business development, making efficient pitch decks and more in order to facilitate growth.

 

Commenting on the accelerator program, Sushil Sharma, Founder & CEO, Marwari Catalysts, says, “India is a young nation with over half its population under 25 years. While the country has made significant strides in digitalization and technological innovation which has made it more competitive in the global landscape, there exists a larger challenge on creation of employment opportunities and jobs for the young population. With the immense potential of the Fintech Sector in jobs creation and economic growth, MCats is happy to partner with Kumbhat Advisors & ENNENN group for this cohort program. We do hope that this joint initiative will lead to many successful ideas which will provide large employment generation opportunities and also a difference to the financial sector of our country.”

 

“I offer my heartiest congratulations and warmly invite eligible startups to this cohort. Mcats as an accelerator will be a partner for your growth but would like to notify that Accelerators are not to be treated as funds,” he added.

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Further adding, Naresh Shah, Founder & Chairman, ENNENN Group says, “India’s financial technology (fintech) sector may be young but is growing rapidly, fueled by a large market base and an innovation-driven startup landscape. And with a view to preparing the fintech ecosystem, this cohort will definitely ensure continuous innovation and engagement with industry to enable a proactive response to the rapidly evolving fintech scenario.”

 

Speaking on the announcement, Devesh Rakhecha, Founder & Director, Marwari Catalysts, says, “Our initiative for this cohort is one part of our commitment to making India a great place for Fintech companies to set-up, and scale-up. The BFSI industry in India is clearly at an inflection point and we are thrilled that with Kumbhat Advisors & ENNENN Group, we are leading with innovation and expect that this moves to benefit the entire FinTech space in India will shape the FinTech ecosystem in the country, inturn giving us a substantial advantage in the market.”

 

MCats is driven by a culture of innovation and has been a frontrunner in building entrepreneurial culture in Tier-2 and 3 cities of India. With Thrive, MCats looks to strengthen its ties with the startup ecosystem as well as build futuristic technologies.

 

Sharing the rationale, CA Mohit Kapoor, Director, Kumbhat Advisors says, “The FinTech community is at the forefront of building an ecosystem where everyone wins; and we are excited that with this cohort, we hope to catalyse movement towards reaching such a goal and enable opportunities for India’s innovative FinTech start-up ecosystem to take secure, scalable solutions to market faster. We, along with Marwari Catalysts, look forward to playing our part as the Startup Ecosystem Advisor and leverage our expertise on the entrepreneurial ecosystem in India to find the next-generation of startups that have the potential to bring large-scale disruptions.”

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CA Amit Mehta, UAE, Shareholder at Marwari Catalysts, Investment Director at Alabbar Enterprises, Ex. Standard UAE Chartered, Ex. Morgan Stanley says, “India has a large untapped market for financial service technology startups – wherein on one hand 40 percent of the population were not connected to banks and 87 percent of payments were made in cash. Today with mobile phone penetration it has increased to 85-90 percent in 2020 from 65-75 percent, and internet penetration steadily climbing, the growth potential for fintech in India cannot be overstated. I am delighted to be a part of this accelerator cohort program as we support these emerging innovative startups at the forefront of developing new tools and technologies and provide a significant value to the industry in the near future.”

 

Marwari Catalysts is also in talks with various funds, family offices and angel investors for a strategic alliance to give a boost to young and ambitious entrepreneurs, while supporting the government’s ‘Start-Up India’ initiative.

 

So, if your technology innovation can positively impact FinTech space in India, here is your chance. Apply now to take your FinTech startup to the next level!
 

Interested startups can tap on the link: docs.google.com/forms/d/e/. The deadline for applying is 31 January, 2022.

Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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