19/09/2021

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SIDTM’s E-Series demystifies the ever-evolving FinTech domain in association with ETPrime

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Over the past couple of years, India has relentlessly pursued its entrepreneurial vision by aggressively joining the start-up forces. As per reports, the country today is among the Top 50 most innovative economies of the world currently having the third-largest startup ecosystem and a robust 21 unicorns valued at $73.2 billion. Despite the pandemic and impending crisis looming large India has seen seven new unicorns in 2020, while 50 more are likely to join the bandwagon by 2022 and there’s no stopping. One of the major forces in the start-up growth story of the country has been Fintech.

Following the successful launch of the Virtual E- Series, the Entrepreneurship Cell of Symbiosis Institute of Digital & Telecom Management (SIDTM) Pune, a constituent of Symbiosis International (Deemed University) in association with ET Prime.com, unveiled the second episode of yet another exciting journey aimed at inculcating the start-up culture amongst the students.

The two-day event revolved around the core theme of ‘FinTech’. DR CA. Abhijit Chirputkar, Director SIDTM Pune, initiated the proceedings with his opening address in which he highlighted that being a pioneer business school in Digital and Telecom Management the knowledge of finance related concepts plays a crucial role apart from the know -how of technology concepts. The Series idea therefore was to encourage the students to uncover various nuances and lucrative avenues that the FinTech industry had to offer.

Day 1: Unicorn Masterclass: Cultivating the culture for Billion Dollar Clubs within the Campuses

The first day, of the E series, witnessed an engaging Unicorn masterclass that unfolded the making of a Unicorn and the role of Institutes and Universities in cultivating the billion-dollar club within campuses driven by one of the most prolific keynote panel that included Mr. Nikhil Kamath, Co-founder, and CIO at
Zerodha & True Beacon, Mr. Gaurav Rastogi, CEO at Kuvera, and Mr. Vikas M Sachdeva, CEO at Emkay Investments Managers Limited moderated the
discussion.

The panelists initiated the discussion by addressing the need of building the start-up culture amongst B school students. Guiding the students about realizing their entrepreneurial dream, Mr. Gaurav Rastogi pointed out that the financial services industry is highly regulated which makes it difficult for the service providers to have USPs, and shared that the key to success is building a habit for users through long term trust. He further stated that in India, rather than normalizing entrepreneurship, we should normalize failure.

Carrying the discussion forward, Mr. Nikhil Kamath brought to light the fact that currently, only 2% of India’s population invest their money in an online trading platform. This showcases a large space for growth and opportunities in the industry. When asked about the disrupting changes in the wealth management business, he stated that the role of the middleman is going away. As a parting message, he advised the budding entrepreneurs to build an
an organisation that is socially responsible and focuses on giving away wealth while making profits.

At the end of this engaging session, the panelists summed up the importance of academicians in mentoring the students and cultivating the culture for “Billion Dollar Clubs” within campuses. More focus was placed on practical mentorship, which provides a larger experiential data set that assists students in avoiding mistakes and saving time and effort, effectively leading them a step closer to achievement.

E-Series_Day2_700X495ET Spotlight

Day 2: Thematic discussion: ‘Fintech – A New dimension to Finance’

After an exciting Day 1, the E series unveiled day 2 with a thematic discussion on ‘Fintech – A New dimension to Finance’. The panelists comprised various icons from the fin-tech space. Ms. Monica Jasuja, VP at Comviva, Mr. Sanjay Bharti, Director, Business at Acko, Mr. Pareen Lathia, AVP-Marketing at WazirX, Mr. Ankur Jhaveri, Head- Neo Banking at Tapits technologies. The discussion was smoothly moderated by Mr. Anand Janardhanan, Assistant editor, FinTech, and Internet economy at ET Prime.

Ms. Monika Jasuja began the conversation by discussing numerous FinTech security issues. She spoke about building a defense fortress at every level and being up to date on compliance regulations. She emphasized reducing the system vulnerability by increasing consumer awareness. Taking the discussion forward, Mr. Ankur Jhaveri addressed the impact of regulations on innovation for a start-up and stated that companies can operate well within the regulation boundaries which still leaves room for innovation and growth. Mr. Pareen Lathia took the audience through the growing prospects of cryptocurrency as the newest asset class. Despite an impressive market capitalization of more than $ 2 trillion, it will take a span of another 5 to 10 years before it reaches the masses further highlighting that the market wouldn’t be as volatile when it reaches the $ 50 Trillion mark. The next panelist, Mr. Sanjay Bharti talked about scaling up the company using micro-finance and small-ticket products to gather data for improved consumer profiling. Further, he shared that it is easier to scale up with in-house technology and product development.

Dr. Tripti Dhote’s heartfelt vote of thanks marked an end to the two-day gathering. The talk greatly motivated the students to investigate all of the promising opportunities open in the FinTech industry and encouraged them to take a leap of faith towards their entrepreneurial journey. SIDTM, Pune in association with ET Prime is now all excited to bring you our next episode on the crucial topic – Health Tech. Till then stay tuned!

(The one-stop destination for MSME, ET RISE provides news, views and analysis around GST, Exports, Funding, Policy and small business management.)

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