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Kotak Securities on Tuesday announced the launch of its maiden Start-up Investment and Engagement Programme.
“Through this programme Kotak Securities will incubate and invest in innovative fintech and technology start-up companies,” it said in a statement.
It has set up an exclusive Corporate Development Department (CDD) for the initiative, with an initial investment corpus of Rs 50 crore.
Kotak Securities will launch incubation/accelerator programmes, hackathons, networking events, pitching sessions and demo day programmes for early stage start-ups in-house as well as with other incubator/accelerator groups.
“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 programme, where we will partner and pick minority stake in fintech companies,” said Jaideep Hansraj, Managing Director and CEO, Kotak Securities.
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