MicroSave Joins Hands with J.P. Morgan, CIIE to Launch $9.5 Million Financial Inclusion Lab in India
The initiative aims to identify and scale up early-stage fintech start-ups that focus on the lower- and middle-income (LMI) segments in India. The Lab will host a series of accelerator programs to identify solutions for specific financial challenges, and leading ideas will be supported with start-up capital, market access, technical assistance, mentoring and sector expertise.
The initiative will glean insights from MicroSave and Centre for Innovation Incubation and Entrepreneurship (CIIE) on where and how fintechs can help the LMI segment. The start-ups will enable access and usage of appropriate financial products and services such as savings, credit, and insurance for LMI households.