One of the largest financial services platform in India, Eko recently launched a mentorship-driven developer program aimed at co-creating innovative digital economy solutions & products targeted specifically at the “unreached & under-served low & middle-income consumers in India. “
The Eko Developer Program hopes to bring on innovators & startups that will help build products in the payments, lending, digital commerce, marketing, remittances, & customer acquisition space among others.
Currently, only 100 million Indians have access to digital economic solutions which is less than 10% of the country’s population.
The Indian developer program is aimed at co-creating solutions that will help bridge this
gap. The company currently serves over 7 million of these consumers per month, & hopes to expand the consumer-base & serve more Indians with this program.
The 1st phase of the Eko Developer Program is set to commence on January 10, 2020, & will culminate in a demo program in April. Between 7 and 10 startups will be selected.
Selected innovators will be able to leverage resources such as Eko’s APIs to help them develop their products faster & also take advantage of Eko’s current network of merchants, sales agents, distributors & investors in addition to the existing 50 million consumers & 150, 000 intermediaries.
As part of the mentorship program, selected participants will be paired with anchor mentors & experts. They will also get access to various products, business models & get market reviews from experienced investors & entrepreneurs to help them refine & bring their products to the market faster. There will also be group learning sessions on various aspects of business such as technology, marketing, operations, & so on.
Although funding is not part of the main goals of this program, participants may be able to access to funding/credit from partners of the program such as AWS & other angel investors.
Application for the 1st cohort is on, & is scheduled to close on Dec, 31, 2019. Selected startups will be announced in January 2020.
The program is open to startups with early traction, budding innovators with concepts & ideas that they intend to take to market & tech companies already offering any of the solutions in the EDP plan.
Image Credit: EDP/EKO
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