The Reserve Bank Innovation Hub (RBIH) has joined forces with IIMA Ventures to introduce SwanariTM TechSprint 3.0. This initiative is aimed at advancing women-centric fintech startups throughout India. As per the announcement, SwanariTM TechSprint 3.0 will serve as a platform for fintech innovators to design, develop, and expand solutions that cater to the financial requirements of women. RBIH operates as a wholly-owned subsidiary of the Reserve Bank of India, while IIMA Ventures (previously IIMA-CIIE) provides a comprehensive innovation continuum that encompasses studying, educating, incubating, accelerating, and investing in early-stage startups.
Mission and Impact
Established with the goal of delivering “frictionless finance for every woman in India”, the programme aims to reach over **556 million women** (aged 15 to 64 based on World Bank data) across various demographics. Its focus areas include:
– Self-help groups
– Women-owned MSMEs
– Women street vendors
The third iteration of this programme will supply strategic resources, mentorship, grants for innovators, and additional funding support to selected startups dedicated to developing women-centric financial products.
Application Process
The initiative invites applications from startups working on inclusive financial solutions, particularly those that possess a demonstrable Minimum Viable Product (MVP) or product, are in the pre-seed to pre-Series A funding stage, or already generating revenue or traction. Applications are welcomed from innovators across India, without geographical limitations.
Statements from Programme Leaders
“By nurturing innovation and supporting fintech startups, we strive to amplify impactful solutions that enhance women’s financial inclusion and promote their economic empowerment,” stated **Aakarsh Naidu**, Head of Fintech and Startups at the Reserve Bank Innovation Hub.
**Supriya Sharma**, Partner – Insights at IIMA Ventures, commented, “Women in India continue to encounter significant challenges in accessing financial services that meet their specific needs, despite progress in financial inclusion. The SwanariTM TechSprint is a call to action for fintech innovators to tackle these issues, whether it involves inactive bank accounts, limited savings options, or the obstacles women entrepreneurs face in obtaining credit. This programme is not only about developing solutions; it is about fostering meaningful change.”
Previous Winners
The previous cohorts have yielded notable winners such as:
– Kaleidofin
– Merakal
– Vitto
– Anniyam Payment
– MaksPay
– Manipal Business Solutions
– Sampatti Card
– Haqdarshak
– Agripal
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