Microsoft, in collaboration with GA Partners, has provided a launchpad for enterprise software startups to address and showcase their solutions to solve the challenges the BFSI industry faces today. The curated startup showcase event for Indian banks and non-banking financial companies saw 10 innovative startups who are at the forefront of India’s FinTech landscape and have demonstrated their ability to achieve enterprise scale. Microsoft is enabling startups to identify the risks, challenges and opportunities in the BFSI landscape and helping device a framework to assess the readiness of a startup to work with a large enterprise.
Although startups have been gaining substantial visibility, their growth is often stifled due to increased competition and development of new-gen technologies. The Niti Aayog expects the FinTech market in India to touch $31 billion by 2020 and there is a significant rise in the number of FinTech startups which are working towards developing innovative solutions for the industry. The FinTech industry is also seeing the growing trend of unicorn startups – valuing more than $1 billion. Microsoft enables such startups to equip themselves with the required technologies, develop and showcase their solutions and expand their customer base.
Lathika Pai, Country Head, Microsoft for Startups, MENA & SAARC said, “India today has the third largest number of startups which is really robust and addresses issues in every business segment. So, our focus is where can we help the most; how do we work with them to help increase revenues through our Co-Sell motion where Microsoft’s account managers will plug them in to our enterprise clients, geographical reach, management mentorship and more. To do that we offer B2B startups access to co-marketing and co-selling opportunities, deep technical architecture guidance and business mentoring through our Scale Up program.”
“We are thrilled to be collaborating with Microsoft to help startups scale. GA Partners have been supporting startups with customer acquisition, tie up with relevant partners, and assisting in sales strategy and implementing them with our deep knowledge from the industry. We are happy to be providing a platform for startups to showcase their capabilities in terms of their solutions, apart from presenting their examples on addressing the challenges of BFSI sector,” said Kannan Ramaswamy, Founder & Managing Partner, GA Partners
During the event, “Building a win-win ecosystem for Startups and BFSI Enterprises” held in collaboration with GA Partners, Pai highlighted the company’s contribution in advancing opportunities for the startups to connect with industry leaders to effectively develop and build their solutions. The startups that addressed the challenges in the Indian banking industry and offered their solutions include: FinBox, JusPay, Worxogo, Growth Enabler, Semusi (AppICE), VuNet Systems, FORMCEPT, StatAnalytics, DheeYantra Research Labs and EPIKInDiF.
