19 April 2017 Current Affairs:
As part of its attempts to encourage entrepreneurship in the financial market space, Japanese financial major Nomura has launched its 'Voyager -Nomura FinTech Partnership' in India.The global financial major is inviting entrepreneurs to participate in the program to build innovative solutions for capital markets and investment banking that can be deployed across the firm and financial industry, said a statement issued by the company.To achieve this, it has set up Nomura Innovation Centre (NICe) at Powai in Mumbai to provide a platform to start-ups that will be selected for the Voyager program.Speaking on the initiative, R K Rangan, President & CEO, Nomura Services India, said: “New technology, supported by an innovation-driven ecosystem, has resulted in an environment of increasing collaboration between new and traditional market players. Building on this momentum, Voyager is a program for start-ups to engage with Nomura to drive innovation through its global network.”As per the statement, working at NICe will enable entrepreneurs to access Nomura resources and test their concepts and solutions leveraging the firm's people, processes and technology. The partnership could lead to start-ups potentially gaining Nomura as a client and/or an investor and obtaining global exposure.Further, Nomura has collaborated with PwC as a knowledge partner, and with Google, IBM and Amazon Internet Services to bring together industry expertise to the Voyager program.“Nomura has already gained momentum in FinTech with the launch of Financial Innovation Office globally, an accelerator program in Japan, and the establishment of N-Village, a wholly-owned subsidiary, to promote new business development and open innovation. We also plan to create a new 10 billion yen fund to provide financial support to start-ups. The Voyager initiative in India is a further sign of our commitment to engage with start-ups and encourage financial innovation,” said Yo Akatsuka, Senior Managing Director, Innovations, Nomura Holdings, Inc.