Yes Bank, India’s fourth largest private sector bank, announced partnership with 10 leading smart cities in India to launch an industry-first ‘Collaboration-as-a-Service’ platform to address urban development challenges. As a part of its newly-launched YES SCALE Smart City Accelerator, the bank is inviting startups from around the world to collaborate with technology leaders like Bosch and Dell EMC and work on problem statements provided by respective Smart cities – Gurugram, Chandigarh,Rajkot, Surat, Vadodara, Aurangabad, Nasik, Warangal, Karim Nagar and Puducherry.
YES SCALE Smart Cityaccelerator will empower these cities with innovative solutions to seamlessly connectpeople, processes and devices and enable administrators to respond faster to citizen’s needs while also creating new revenue sources. The strategy is fully aligned with the national agenda of moving India from Fragile 5 to making India a USD 5 tn economic super power.”
YES BANK’s YES SCALE Smart City accelerator has created an ecosystem to help startups test, develop and deploy their solutions across the cities and further scale across the country-
- Technology Infrastructure Support: Bosch and Dell EMC Digital Cities will provide testing, development and deployment infra support to help startups implement their solutions
- Digital Infrastructure : Cloud Credits, Analytics tools support from AWS and Google Cloud
- PoC Support: With more than 85% of India’s tech startups affected by non-paid PoCs, the program offers a support of INR 20 lakhs for PoC development during the program
- Mentorship: 50+ Technology and scale up experts across the world
- Funding Option: Affiliate startups can raise equity funding of upto USD 1 mn through fund partners Artha Ventures, CIIE, Anthill, Unitus VenturesGlobal Exposure:Global platforms like UK India Innovation Fund, New Energy Nexus are also supporting the ecosystem
- Additionally, Bosch will also look at solutions to implement in their respective partner smart cities viz. Bhubaneshwar and Kochi.