ICICI Bank is partnering with YNOS Venture Engine, a venture incubated by the Indian Institute of Technology Madras (IIT-M), to offer unique solutions to its current account holders. The partnership will enable the bank’s current account customers, including early stage startups and MSMEs, to benefit from the Enigma technology platform YNOS Ventures has created to scale up growth. The platform helps startup entrepreneurs make informed strategic decisions by offering services such as dynamic dashboards on startup landscape, business models, valuation and time taken after incorporation to raise angel funding among others. It also uses advanced data sciences tools to estimate potential valuation of the early stage venture besides engaging with leading advisors to validate and strengthen investment pitch and value proposition. Thillai Rajan, professor, IIT-Madras and co-founder of YNOS Venture Engine, said reaching out to the right investors is a big challenge for early stage entrepreneurs. Enigma will use advanced data sciences and technology tools to democratize information availability even for the smallest of start-ups, thereby increasing the speed and efficiency of decision-making.
