YES SCALE Smart City Accelerator to engage startups to ‘Innovate for India’
Accelerator will focus on leveraging emerging technologies like Blockchain, IoT and AI, & analytics to address smart city challenges
Technology Infrastructure Support : Bosch and Dell EMC Digital Cities to provide testing, development and deployment infrastructure support to help startups implement their solutions
Focus will be on development of Intelligent, Optimized public transit systems, water management & air pollution monitoring systems
Mentorship support through 50+ Technology and scale up experts from world-over
Mumbai, July 19, 2018: 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 viz. Gurugram, Chandigarh, Rajkot, Surat, Vadodara, Aurangabad, Nasik, , Warangal, Karim Nagar and Puducherry.
Commenting on the development Mr. Rana Kapoor, MD & CEO, YES BANK said, “This is a significant step towards creating ‘Collaboration-as-a-service’ economy and re-looking at urbanization as an opportunity, not a problem. YES BANK’s cross industry collaboration through YES SCALE Smart City accelerator will empower these cities with innovative solutions to seamlessly connect people, processes & 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 Ventures
Global 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 Mr. Aravind Raman, Head of Strategy and Business Development at Bosch India said, “Bosch works very closely with the tech-startup ecosystem in India. Through this association with YES BANK, Bosch is excited to continue this journey of building innovative solutions for India’s cities; YES SCALE could connect us with the right startups so that speed and efficiency of assistance to startups can be improved.”
Commenting on the partnership, Mr. Ravinder Singh, Director, Cybersecurity, Digital Healthcare & Digital Cities, India Public Sector, DELL EMC EMC, said, “Dell EMC EMC is focused on creating value for Smart Cities by offering world class IT Infrastructure products and solutions. Dell EMC EMC is working closely with many Smart Cities globally and with startups for creating joint innovative solutions. We are proud to be associated with YES SCALE as Technology partner to help create next generation of niche solutions aimed at both Indian and Global Smart Cities”.
YES BANK’s partner Smart Cities have identified challenges unique to their administration to address through YES SCALE Smart City, like, city wide data collection & analytics using IoT, blockchain and AI, Development of Open Data toolkit, Smart Traffic & Parking Management using video analytics, IoT and sensors, Intelligent, Optimized Public Transit systems, Automated Grievance collection and Response management, Intelligent Waste Management solution including smart labels, tippers and waste maps, Metering & Monitoring water supply, Smart air pollution monitors and efficient converters, Sensors for automated assistance of physically impaired citizens and Centralized dashboards to map and monitor utilities etc.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
For media queries, please contact: