KSL to launch maiden start-up program

Kolkata: Kotak Securities Limited (KSL) today announced the launch of its maiden Start-up Investment and Engagement Programme. Through this program, KSL will be incubating & investing in innovative fintech and technology start-up companies.

Kotak Securities has set up an exclusive Corporate Development Department (CDD) for this initiative and an initial investment corpus of Rs 50 crore, a company release issued here said.

Jaideep Hansraj, MD & CEO, Kotak Securities, said, “In today’s fast-paced world of rapid advancements in technology, we need to be ahead of the curve in terms of product offerings to our customers. Broking and distribution business has become more of a technology play, and this has gained further prominence in the new normal. 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 program where we will partner and pick a minority stake in fintech companies that makes strategic sense to Kotak Securities.”

Shripal Shah, President – Head Operations, Finance and Technology, Kotak Securities, said, “Kotak Securities will evaluate opportunities of investing, partnering and incubating start-ups and for the right idea, we are willing to back the promoters and take a strategic equity stake in the startup. While we get access to some exciting technology plays, start-ups get the advantage of product validation, mentorship, and institutional capital.”

KSL will launch incubation/accelerator programs, hackathons, networking events, pitching sessions, and demo day programs for early-stage start-ups in-house as well as with other incubators/accelerator groups. There will be a dedicated section on the KSL website where interested start-ups can register and submit innovative ideas and products for evaluation and find various updates under this program, the release added.