Image: Finbots Team
Finbots is a Singapore-based fintech company which provides strategic consulting, implementation and delivery services for Artificial Intelliegence for Banks and Corporate. Bala Iyer, the CEO of Finbots and his team had developed innovative solutions which could assist in early closure of financial statements, reduce operations risks, bring predictive intelligence to make the Finance, Operations and Risk team more productive. Like any other start-up being new, the needed help to kickstart their journey.
Making a difference
At the beginning of 2018, Bala approached Nadhirah, our Business Advisor, for assistance.
With all the information at her fingertips, Nadhirah updated Bala and his team on various incentives, starting with Startup SG Founder, which provides mentorship and capital grants to first-time entrepreneurs with innovative business ideas.
“Finbots had a really unique business idea which could potentially help the entire fintech industry. Given that Bala was a new entrepreneur, I thought it was apt that he applied for the Startup SG Founder grant,” explained Nadhirah.
With Nadhirah’s guidance, Finbots successfully applied for the grant and was awarded $30,000 to assist the company in solution designing and production coding. Further than that, Finbots needed a corporate deck to present to potential investors. Together with Nadhirah, the team was able to conceptualise their solutions and create a business deck which entailed the brand’s core values and services.
Later down the road, Finbots realised that they needed the right talent to design the solutions they were providing. Nadhirah recommended them to try out the Professional Conversion Programme (PCP) provided be e2i. Through a successful application, Finbots was able to secure salary support for a team of 6 staffs over a period of 6 months.
“We are lucky to have Nadhirah as our advisor. As a start-up, we needed someone who could mentor us to understand the various grants available and Nadhirah was able to do so with her sound knowledge. She is highly responsive and constantly challenges us to do better,” shared Bala.