Nomura sets up Indian fintech programme; creates $92 million startup investment fund
Japanese investment bank Nomura has set up a fintech programme in India, inviting entrepreneurs to join it at a Mumbai base to build new tools for capital markets.
The Voyager partnership will give Indian fintech specialists access to Nomura’s resources at the Mumbai innovation centre, enabling them to test their ideas using the bank’s people, processes and technology.
In addition, PwC, Google, IBM and Amazon Internet Services are all signed up to offer expertise to participants.
As well as gaining access to technology and expertise, startups will benefit from the exposure of working with such a major player, says Nomura, adding that it may even invest in or become a customer of programme participants.
Rangan, CEO, Nomura Services India, says: “New technology, supported by an innovation-driven ecosystem, has resulted in an environment of increasing collaboration between new and traditional market players. Building on this momentum, Voyager is a program for start-ups to engage with Nomura to drive innovation through its global network.”
Nomura’s efforts to embrace the fintech community recently saw the firm set up a subsidiary called N-Village, which will focus on new business development and open innovation.
The unit will conduct research into new technologies and also partner fintech startups, putting aside 10 billion yen ($92 million) to invest in promising firms.