Japanese financial major Nomura has launched a global accelerator-cum-creation platform for startups in India named Voyager – Nomura FinTech, according to a statement.
The accelerator will build products and solutions specifically for capital markets and investment banking (CMIB) that can be deployed across the firm and financial industry, the group said.
“Nomura has already gained momentum in fintech with the launch of Financial Innovation Office globally, an accelerator program in Japan, and the establishment of N-Village, a wholly-owned subsidiary, to promote new business development and open innovation. We also plan to create a new 10 billion yen fund to provide financial support to start-ups. The Voyager initiative in India is a further sign of our commitment to engage with start-ups and encourage financial innovation,” said Yo Akatsuka, senior MD, Innovations, Nomura Holdings, Inc.
According to a media report, the Japanese financial major is eyeing investments in fintech startups in India now through its $100 million fund and has already backed one of Asia’s largest fin-tech-focused VC funds based out of Hong Kong.
“New technology, supported by an innovation-driven ecosystem, has resulted in an environment of increasing collaboration between new and traditional market players. Building on this momentum, Voyager is a program for start-ups to engage with Nomura to drive innovation through its global network,” said R.K. Rangan, president & CEO, Nomura Services India.
It has also set up an Innovation Centre (NICe) in Mumbai’s Powai suburb that will give selected startups an access to the firm’s existing infrastructure, technology and processes.
The Japanese institution, a financial services group, was founded in 1925. It has a global network spanning over 30 countries. The group operates through its three business divisions – retail, asset management, and wholesale (global markets and investment banking).