YES Bank高级总裁兼公司战略负责人Amit Shah表示："这个项目是我们认真构思和运作的。我认为，虽然我们自己没有这方面需求，但是通过协助创业公司发展金融科技，我们同样能有效参与其中。"
YES Bank的新项目名为YES Scale，面向智能城市、清洁科技、农业科技、生命科学和教育科技五个领域。在发展的第一阶段，该银行重点关注前三个领域。
YES Bank总经理兼首席执行官 Rana Kapoor说："印度是全球第二大清洁能源市场，可再生能源投资额排名第四。由于创业型经济蓬勃发展，印度市场大变模样，清洁科技部门的发展被重新定义，这与印度政府的预想一致。"
YES Bank在智能城市领域的合作伙伴有戴尔、博世，在农业科技领域有ITC、雀巢、MTR和 Bigbasket。
Private sector lender YES Bank first launched its fintech accelerator programme in January, 2017, but the success of the programme has led the bank to extend its programme to startups that are in non-banking sectors.
“This was something which was running on the back of our minds. Just because we cannot consume it would not mean that we could not meaningfully engage with them,” says Amit Shah, country head, corporate strategy, YES Bank.
He says that with growing digitalisation, there is a new paradigm in banking, where banks’ activities go beyond just financial transactions, and include providing various kinds of advisory services.
YES Bank also realised it could take innovative startups to its clients to solve their business problems as often, the clients did not have access to startups.
YES Bank’s expanded accelerator programme is called YES Scale, and is focused on five verticals – smart cities, cleantech, agritech, life sciences and edutech. In the first phase, the bank is focusing on smart cities, agritech and cleantech.
Amit says, “The five segments are the knowledge sectors and we have deep expertise in these areas.” The bank has been actively financing in the areas of cleantech and agriculture.
YES Bank Managing Director and CEO Rana Kapoor says, “India is currently the second most attractive renewable energy market in the world and fourth in terms of renewable energy investments. With the rise of the startup economy, the Indian market is all set to disrupt and redefine the contours of the clean technology sector, in line with Government of India’s vision.”
Connecting the dots
As part of the YES Scale accelerator programme, the bank brings together startups, clients and technology providers. It also provides a grant of up to Rs 20 lakh to startups with the core focus being to take them to the market in 15-weeks’ time. Besides, it also provides access to funding of up to $1 million through various investment partners.
The grant provided by YES Bank is part of an insight it gained from a detailed study on the opportunities in the India fintech sector, where it found that 80-85 percent of the startups struggle to get off the mark as they do not get funding for their proof of concept (PoC). The grant from YES Bank enables these startups to complete their PoC.
“Startups have a solution which is yet to implemented, and we have clients who have agreed to work with them to solve their real-life problems,” says Amit. The startups in the programme will undergo an intensive 14-week curriculum where the focus is to create market viability of their products.
The bank has an exhaustive database of startups in its chosen segments and it plans to select around 15-20 in each segment. Among the startups, the bank is looking at those that are still in the early stages.
YES Bank has partnered with Dell and Robert Bosch for its smart city segment, whereas ITC, Nestle, MTR, and Bigbasket will be part of its agritech programme.
The lender has set aside Rs 4 crore for the accelerator, of which Rs 3 crore will be given in form of grants. The bank is confident of getting the right quality of startups for the YES Scale progamme. As part of its fintech accelerator programme, it had received applications from 750 companies across 18 countries in the first phase.
The YES Scale accelerator programme has taken learnings from the bank’s fintech accelerator. Amit says, “In the year one, we thought we will bring a lot of international deep tech into India, but realised that these startups do not understand the unit economics of the country.”
He opines that India is a country where there is scale and volume, but it comes at a low margin. The other important learning was that as a financial institution, YES Bank needed to be conservative on how it engaged with startups, especially those dealing with sensitive financial data. “We do not want to do things in a hurry, and have our own processes in risk management which encompasses areas such as information security, application and compliance,” says Amit.