State Bank of India IT Innovation Start-up Engagement Programme (IT-ISEP)
State Bank of India has launched an ‘IT Innovation Start-up Engagement Programme’ with the following objectives:
To gather deeper and collaborative understanding of the startups.
To encourage IT start-ups to leverage the benefits of “Digital India” and “Make in India’ programs and in the process contribute to the development of products and services for the banking sector.
To harness the capabilities of innovative young entrepreneurs for developing ground breaking ideas at a low cost to the Bank.
Encourage these startups to transfer technology to SBI in particular and to the industry and society at large
The IT Innovation Startup Engagement Programme (IT-ISEP) has been established with an initial outlay of Rs. 50 crore. Under the programme, SBI shall consider procurement of innovative IT Products/Services useful for SBI, for up to Rs.3 crore from an Indian registered entity.
Following is the broad eligibility criteria for the entities to be considered under the IT-ISEP
You should be an Indian firm/company.
The firm/company should be a Start-up as on date of signing the SLA (Service Level Agreement) with Bank while engaging for any product/service/solution from them.
The turnover of the firm/company should not have been greater than Rs. 25 crore in any of the years of its operations.
The company/firm must neither be a foreign company nor subsidiary of any foreign or Indian company.
The Intellectual property rights for the product/services offered to the SBI should be owned by the firm/company applying under the programme. The firm/company has to ensure that the application/product/solution, code, artefacts, scripts, etc. offered by them have been internally developed by them and not copied, pilfered, hacked, transferred, procured from any other company or individuals.
You shall provide training and complete knowledge transfer to Bank’s team
You should have obtained the "Certificate of Recognition" as a Startup from the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion) either as per Notification No. G.S.R. 180 (E) dated 17th February, 2016 or G.S.R. 501(E) dated 23rd May, 2017, OR you are in the process of applying for the same, and will submit the Certificate before the formal engagement with the Bank.
If you have already applied, you can check the status of your application
No documents are required to be submitted at the stage of filling the application.
Applications which meet the criteria of the Bank will be taken up for evaluation through a multi-stage process, and the outcome of the evaluation will be advised to the applicant through email.
Should you need any further clarification, please write to us at email@example.com or call us at 022-27537066, 022-27537076, 022-27537736 during office hours.