Societe Generale launch of Catalyst, a startup accelerator program in India
Societe Generale recently launched CATALYST – a startup accelerator program, with a view to leveraging the rich ecosystem of Indian startups. The selected startups will get to work on different themes based on banking business challenges, with guidance from Societe Generale' to co-create solutions to meet the Bank’s customers needs.
Societe Generale Global Solution Centre, the Indian subsidiary of the Groupe, initiated CATALYST in partnership with the Indian first IT industry body NASSCOM (National Association of Software and Services Companies. This program aims at promoting collaboration and open innovation with Indian entrepreneurs. The key focus areas for the startups will be Artificial Intelligence/Machine Learning, Big Data/Data Visualization, Voice to Text Transcription and Client Sentiment Analysis.
8 selected disruptive startups
The CATALYST initiative has received an overwhelming response from entrepreneurs and after a rigorous screening process, Societe Generale partnered with eight Indian startups to co-create disruptive solutions to meet some of the Bank’s business challenges. All the eight start ups Agora Analytics, Datum Informatics, FixNix Inc., GAVS Technologies, Lithasa Technologies (arya.ai), Stride.ai, Tookitaki Technologies, Uniphore Software Systems will work inside Societe Generale premises for a period of ten weeks. This comprehensive program combines 150+ years of banking experience of the Societe Generale Group, with cutting-edge technology to create and develop scalable solutions for its clients.
Co-creation, testing, iteration in Societe Generale premises
The CATALYST initiative aligns completely with the digital transformation and open innovation strategy of Societe Generale. To innovate and leverage on the creative strength of the multitude, the Group multiplies connections between internal communities and the digital ecosystems in France (Paris and French regions) and internationally through relays in the United States, the United Kingdom, and Israel as well as through more integrated projects in Africa and India.
The CATALYST program aims at co-creating solutions to meet customer needs by collaborating with these disruptive technology startups. In the current dynamic digital ecosystem, focused on customer experience, the program provides startups with an apt platform to test, iterate and scale their products or solutions with a real scenario, with guidance, coaching and mentoring from Societe Generale's experts.