Axis Bank launches Thought Factory – an innovation hub for startups

The startup scenario in India is at its peak with talent pool and investors interest at all time high. Axis bank has launched an innovation and incubation hub for start-ups called, Axis Thought Factory. The Axis Thought Factory is aimed at boosting the start-up ecosystem, specifically in the Banking and Financial sector. Thought Factory will provide a global platform for Indian start-ups as they have strategic alliance with Amazon, OCBC bank and Visa.

Through the ‘Accelerator’ program in Axis Thought Factory, start-ups get a 3 month period to work on innovative ideas and get mentor-ship from trained partners. At the end of 3 month period, they will get to showcase their ideas to potential investors. Axis bank will organize periodic investor meetups and Axis bank by itself is a potential investor.

Axis Thought Factory

Jocata, Juspay and Goqii are some of the startups which are already working with Axis bank and have tasted success. Goqii has launched a wireless NFC based wearable payment gateway called “Goqii Active” in collaboration with Axis bank. Starting from September, the first batch of startup will join Axis Thought Factory and will be working on solutions in the AI, Blockchain, Big Data Analytics and robotics domain.

Axis Goqii

Startups who are part of Thought Factory will have access to “Ask an Architect” program where Amazon solution architects will answer AWS (Amazon Web services) related queries.

“We are excited to partner with Axis Bank on the Thought Factory ‘Social’ and we see this as an opportunity to further promote the startup ecosystem by hosting interesting startup events, thought leadership talks, boot camps, start-up pitches, etc. Start-ups will also get to benefit from regular architecture review and Ask-an-architect sessions to improve their technology stack implementation”, said Bikram Bedi, Managing Director, AISPL, India.

The accelerator program is in collaboration with OCBC and it will give startups access to solution experts across the globe. It will be a collaborative environment where the startups will get to share research and findings from across other startups from the globe. The alliance with Visa will enable Thought Factory startups to get mentor-ship on the payment solutions

Axis bank will conduct roadshows across the country and will reach out to other startup hubs. Startups from the incubator hubs can showcase their talent on these roadshows and selected startups can get to be part of the Axis Thought Factory.

For more details, visit Thought Factory.