LEARNINGS FROM PHASE 1
Catalyst Incubator’s Phase 1 was a source of critical on-ground learnings regarding fintech solutions for the small merchant ecosystem in India. We realised that simplified interfaces are needed in order to ensure that the solutions work for such segments, and that existing products or redesigning of existing solutions falls flat. There is a need to create out-of-the-box, creative conceptual designs to solve current issues. There is a need to focus on repeat usage of such tailored products and solutions. Sign ups may happen on an exponential scale, but the real solution will be if continuity in usage can be established
Catalyst AIC (Phase 2)
Based on learnings from Phase 1, we have understood that fintech alone cannot solve technological inclusion problems for the last mile. Thus, we have envisaged Catalyst AIC as an “inclusive tech” incubator, that will support and accelerate innovative startups who are building technological solutions for the last mile, ultimately resulting in enhancements to rural/semi-urban livelihoods.
Founded with a vision for the 21st Century and beyond, Krea University has been instituted by a stellar team of academicians, industrialists and intellectuals. An effort to re-imagine the education system, Krea University is a State Private University that houses the School of Interwoven Arts and Sciences (SIAS) and the IFMR – Graduate School of Business (IFMR GSB), and research centre LEAD. Krea University’s sponsoring body, IFMR Society was set up in 1970 as a not-for-profit society focused on research, training and education in the areas of macro and micro economics, finance and management including a full-fledged business school.
LEAD, an action-oriented research centre of IFMR Society (a not-for-profit society registered under the Societies Act), leverages the power of research, innovation and co-creation to solve complex and pressing challenges in development. LEAD has strategic oversight and brand support from Krea University (sponsored by IFMR Society) to enable synergies between academia and the research centre.
ABOUT CATALYST AIC
Catalyst AIC is an incubation and innovation center set up by Krea University in Jaipur, in partnership with NITI Aayog’s Atal Innovation Mission. The center supports and helps scale innovative startups in the inclusive tech domain, which build products focused around unserved and underserved communities in India’s last mile.