Kotak Securities launches incubation programme for fintech startups

Stock broking company Kotak Securities Limited (KSL) on Tuesday announced the launch of its maiden startup investment and engagement programme. 

Through this programme, KSL will incubate and invest in fintech and technology startups, according to a statement. 

As part of the initiative, the company has also set up a corporate development department (CDD) and an initial investment corpus of Rs 50 crore.

 “We strongly believe technology innovation will gauge the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in fintech companies that makes strategic sense to Kotak Securities,” Jaideep Hansraj, MD and CEO of Kotak Securities said. 

KSL will launch incubation and accelerator programmes, hackathons, networking events, pitching sessions and demo day programmes for early stage startups in-house as well as with other incubator/accelerator groups, the statement added. 

“ While we get access to some exciting technology plays, startups get the advantage of product validation, mentorship and institutional capital,” Shripal Shah, president – head of operations, finance and technology, Kotak Securities said. 

KSL is a subsidiary of Kotak Mahindra Bank and the stock broking arm of the Kotak Mahindra Group. The company offers a range of financial products including equity, derivatives, currency derivatives, commodity derivatives, IPOs, mutual funds and insurance.