YNOS Venture Engine, incubated by the Indian Institute of Technology Madras (IIT-M), announced on Monday that it had partnered with ICICI Bank to offer unique solutions to the bank’s current account holders.
The partnership will enable ICICI Bank’s current account customers, including early stage start-ups and micro, small and medium enterprises (MSMEs), to benefit from the Enigma technology platform of the company to scale up growth.
YNOS Ventures’ technology helps start-up entrepreneur make informed strategic decisions by offering services such as dynamic dashboards on start-up landscape, business models, valuation and time taken after incorporation to raise angel funding among others.
The company 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.
"Reaching out to the right investors is a big challenge for early stage entrepreneurs. Enigma will use advanced data sciences and technology tools to democratise information availability even for the smallest of start-ups, thereby increasing the speed and efficiency of decision-making,” said Thillai Rajan, Professor, IIT-Madras, and co-founder of YNOS Venture Engine.
ICICI Bank customers will get a discount of ₹495 on the subscription price for online offerings and ₹1,000 on personal consultation.