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CAMS IIT-M Fintech Innovation Lab
CAMS IIT-M Fintech Innovation Lab
Tech Space to Finnovate

CIFIL Incubation Program

The CIFIL Incubation Cell is dedicated to nurturing early-stage fintech startup ideas by offering mentorship, funding opportunities, industry connections, and essential infrastructure to develop cutting-edge financial solutions.

With a strong focus on high-potential and high-impact ideas, the program is highly selective, admitting only 10 startups to ensure intensive support tailored to the fintech sector.

The incubation program is structured to run for a maximum duration of one year, providing startups with the necessary resources and guidance to scale effectively.

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Program Structure

Application & Selection
Idea Validation
Product Development
Market Entry
Investment
Application & Selection

Phase 1 : Application & Selection

Duration : 1 month

The first step in the CIFIL Incubation Program is to identify and select the top 10 most innovative fintech startups that align with the incubation cell’s vision. This process is highly competitive and rigorous to ensure that only the best ideas with the highest potential are chosen

  1. Online Application Submission
    • Interested founders submit their startup applications through an application form
  2. Screening & Shortlisting
    • Applications are screened based on novelty, feasibility, scalability, and team strength.
  3. Pitch & Final Selection
    • Shortlisted startups (Top 20) are invited for a Pitch Day.

Idea Validation

Phase 2 :  Idea Validation & Compliance Readiness

Duration : 1 - 3 months

Phase 2 focuses on validating their business model, refining the solution, and ensuring regulatory compliance. This phase helps startups eliminate uncertainties, fine-tune their ideas, and align with financial regulations before moving to product development. During this phase, selected startups will engage in

  1. Customer Discovery
  2. Market & Competitor Analysis
  3. Revenue Model Refinement
  4. Regulatory Workshops with Experts
  5. Legal & Intellectual Property (IP) Protection

Product Development

Phase 3 :  Product Development

Duration : 1 - 3 months

Once the business model is validated and regulatory compliance roadmap is set, the startups move into product development and pilot testing. This step is crucial to build a working Minimum Viable Product (MVP), integrate financial services, and test the solution in real market conditions. During this phase, selected startups will engage in

  1. Finalizing the Tech Stack
  2. Building the Minimum Viable Product (MVP)
  3. Sandbox Testing with Regulatory Bodies
  4. Launching Beta Version for Pilot Users
  5. Iterating Based on User Feedback

Market Entry

Phase 4 :  Market Entry

Duration : 1 - 3 months

After successfully developing the Minimum Viable Product (MVP) and running pilot tests, startups now focus on scaling their product, acquiring customers, and driving revenue. This phase helps them establish a strong market presence, optimize their go-to-market (GTM) strategy, and attract early-stage investments. During this phase, selected startups will engage in

  1. Refining the Target Market
  2. Customer Acquisition Strategy
  3. Product Positioning & Branding
  4. Boosting User Retention & Engagement
  5. Gathering Data & Performance Analytics

Investment

Phase 5 :  Investment & Exit Readiness

Duration : 1 - 2 months

The final step focuses on securing long-term investment, achieving financial sustainability, and preparing for potential exits. By this stage, startups should have a strong customer base, proven revenue model, and clear scalability roadmap. The goal is to transition from an incubated startup to a fully independent fintech company that can either raise large-scale funding, enter an accelerator, or achieve a successful acquisition. During this phase, selected startups will engage in

  1. Preparing for Seed/Series A Funding
  2. Investor Roadshows & Demo Day
  3. Equity Structuring & Valuation Assessment

What We Offer

Co-Workspace

Access to a fully equipped fintech-focused workspace for seamless collaboration

Tools and Resources

Cutting-edge fintech APIs, cloud credits, and security frameworks

Mentorship

Guidance from industry experts, fintech founders, and regulatory professionals

Funding

Seed grants and investor connections to support early-stage growth

Networking

Exclusive access to fintech leaders, banking partners, and venture capitalists

Workshop

 Hands-on training on compliance, product development, and market strategies

Frequently Asked Questions (FAQ)

What makes CIFIL Incubation Program different from other incubation programs?

CIFIL is exclusively focused on fintech startups, offering industry-specific resources, expert mentorship, and regulatory guidance. With a highly selective intake of only 10 startups per cohort, we ensure each participant receives intensive, tailored support to maximize their growth potential. 

What types of startups are eligible for the CIFIL Incubation Cell?

We welcome early-stage fintech startups with innovative ideas and high-impact potential in the financial services sector. Eligible startups should demonstrate a clear business model, scalability, and regulatory compliance. We also accept startups in the MVP (Minimum Viable Product) stage that are ready to refine and scale their solutions. 

How many startups will be selected for the program?

We limit the cohort to just 10 startups to ensure that each receives intensive mentorship, funding support, and access to industry networks, creating an exclusive and high-impact incubation experience.

Do I need to relocate to the CIFIL incubation facility?

Relocation is not mandatory, but it is strongly recommended to fully benefit from the program. Being on-site provides greater access to mentors, networking opportunities, and hands-on support. However, remote participation options are available.

Can my startup apply for multiple fintech incubators or accelerators at the same time?

Yes, startups can apply to multiple programs. However, some incubators may have exclusivity clauses that restrict participation in other programs. We advise startups to review the terms and conditions of each program before committing.

Is there any cost associated with the resources and infrastructure provided by CIFIL?

There is no direct cost for accessing our resources, infrastructure, and mentorship. However, startups will need to allocate an equity stake of 1% in exchange for support provided.

Will CIFIL continue to support my startup after the incubation period?

Yes. Upon graduation, startups become part of the CIFIL alumni network, gaining continued access to mentorship, investor connections, and exclusive networking opportunities to support long-term growth.