Bhubaneswar: The Indian Institute of Management Sambalpur (IIM-S), hosted a workshop for aspiring FinTech start-ups Monday involving key entrepreneurs and leaders in FinTech (Financial technology).
The participants shared their entrepreneurial experience, challenges faced by them and the mitigation methods adopted by them with the audience comprising FinTech start-up members, academicians, researchers, business administrators and students.
The demonetisation drive launched in 2016 had redefined the fintech ecosystem and put many startups in India’s business map. The ban on Rs 500 and Rs 1,000 currency notes, which wiped out 86.4% of cash from the economy, forced people to switch to digital payments and online transactions.
The wave of digitisation led to digital payment platforms and the existing players went on to achieve soaring valuations and new fintech startups quickly scrambled to fill in the opportunity, the participants claimed.
Mahadeo Jaiswal, director, Indian Institute of Management, Sambalpur said, “The research focus of IIM-Sambalpur is around 3Ds’ – Digitalisation, De-carbonisation and Democratisation of Business – and thus the workshop was aligned to digitalisation research strategy as well as operating value of innovation and inclusiveness.”