Frequently Asked Questions
Who can apply?
We’re looking for technology-focused startups (India or globally based) with an MVP along with a growing customer base currently innovating in payments, lending (Consumer + SME), Trade Finance & Forex solutions, Wealth Management, Reg-Tech, Customer value added services and other areas of the financial services industry.
Can I apply if I’m not in India?
Yes. But, program requires onsite interventions in Mumbai and Hyderabad over 3 weeks spread out during the cohort period. So, you will need to be able to travel as necessary.
Can I apply if I'm already funded by any other organization?
Yes, all startups with an MVP along with a growing customer base are encouraged to apply. YES FINTECH Accelerator program provides an opportunity for startups to scale-up with speed in different aspects such as Strategy, Business Plan, Design, Operations, Marketing, Technology and Sales.
Does my company need to have a website to apply?
No. However, it does help in the evaluation of your company
Do I need to submit a business plan?
No. Just fill in the fields in the Application Form
How does the Application process work?
a) Startups can fill in the Application Form online where you can let us know about your team, product and the market currently operating in. All the questions are targeted to understand the startup in totality
b) Shortlisted startups will be invited for in-person presentation in Mumbai.
c) Post this, final selection of startups for the cohort is announced.
Do you have a preference for the stage of companies you bring into the YES FINTECH Accelerator Program?
We’re looking for technology-focused startups (India or globally based) with an MVP along with a growing customer base. You may also have first few clients in your portfolio
When do I apply? What is the overall timeline?
When can I expect a response after filling the application?
We will reach out to you should you be shortlisted. Please visit our Program Timelines Infographic for important dates for various initiatives
What is the evaluation criteria to compare my startup vis-Ã -vis others?
YES FINTECH Accelerator program is looking for startups that possess –
a) Innovative product/ technology solution capable of disrupting traditional banking
b) A Scalable product with a sustainable design/ architecture
c) Long-term viability of the product
d) Team’s technical & business expertise
e) Passionate team: Background of Founders & their vision for the startup
Why Does YES BANK have an accelerator program for startups?
Since inception, YES BANK has been at the forefront of technology innovation and endeavors to continue its focus on delivering world class banking services to its institutional and retail clients through best-in-class technology.
YES BANK, has adopted a unique – Alliances, Relationships & Technology (A.R.T) approach to Digitized Banking to Deepen Mindshare and Grow Marketshare among its consumer base. In today’s dynamic and ever changing financial landscape, YES BANK realizes that all Innovation cannot come from within the Bank.
Furthering the A.R.T ecosystem, YES Bank has established a Fintech focused Business Accelerator program - YES FINTECH, which will provide a fillip to the A.R.T model by creating a platform for the bank and Fintech startups to interact besides partnering to create innovative solutions for financialservices industry.
What is duration and structure of the cohort?
YES FINTECH ACCELERATOR program will be launched on March 13, 2017 and the cohort is expected to run for 15 weeks. The Accelerator is a non-residential program with 3 onsite intervention weeks – 2 in Mumbai & 1 in Hyderabad.During these onsite sessions, you’ll be surrounded by like-minded entrepreneurs, and will be frequented by mentors, investors, YES BANK’S senior management and technical experts. This will give you an excellent opportunity to build strong working relationships, learn from others' experiences and share your own.
Is there an equity stake component or cash grant involved?
No equity or cash grant is involved for you to participate in the Accelerator program. Should your business require equity funding, YES FINTECH will facilitate the same through our partner Anthill Ventures.
YES FINTECH ACCELERATOR program provides an opportunity for startups to scale-up with speed in different aspects such as Design, Operations, Marketing, Technology and Sales. If your product scales-up well in the 15-week Accelerator program, you stand a chance to grab a Commercial Contract with the Bank.
What are the unique aspects of the YES Fintech program?
YES FINTECH Advantages
1. Compliance & Regulatory Guidance
Guidance on filling patents and other Finance sector regulations.
3 week onsite & 11 week off-site interactions with YES BANK Leadership & Global Industry Experts.
3. Access to T-Hub Startup Ecosystem
Advantage of T-Hub’s incubation ecosystem – intersection of the start-up community, government, academic, research sectors. Our partners Anthill Ventures will also offer access to Venture caps in addition to their proprietary speed scale module for startups to gauge their level of readiness and accordingly plan their go to market strategy.
4. Market Access to 2 million + real customers
Access to YES BANK’s 2 Million + database.
5. Global Outreach
Create, share, exchange ideas and fine-tune your solution with global FINTECH community through Let’s Talk Payments. MEDICI will offer access to global FIs, angel investors, Fintech VCs and sector focused advice on your product and business.
6. Showcase & Visibility
Benefit from our partnership with Carnegie University to publish internationally and showcase your solutions on YourStory, VC Circle, Inc 42 and Businessworld. Benefit from YES FINTECH partnership with these global outreach platform to showcase your solution and your startup success story. The full list of partners is detailed here.
Does YES BANK provide accommodation/travel during onsite intervention weeks?
No. You need to arrange for your accommodation/travel for all onsite intervention sessions.
Does YES BANK offer working space during for the startups in the program?
The YES FINTECH program through its space partner – AWFIS will provide access to its co-working spaces in New Delhi, Mumbai, Bangalore and Hyderabad at highly discounted rates
Can participating startups work with multiple business units at YES BANK?
Yes, startups may have the opportunity of working with multiple business units during the cohort.
Do startups need to sign any Terms & Conditions for participation?
Yes. Your online application requires you to accept YES FINTECH ACCELERATOR program’s Terms and Conditions.
Additionally, startups finally selected will enter into a mutually agreed contract with YES BANK.
Do I need to share the IP?
We suggest you only share non-confidential information. You will retain ownership of all protected IP included in your application. We want to evaluate how your idea will mutually benefit our interests.