IT - ISEP - Business

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

Application Process

Following is the broad eligibility criteria for the entities to be considered under the IT-ISEP

• The company / firm is an Indian firm / company.
• The company / firm is neither a subsidiary of a foreign company nor have shareholding by any foreign company. Also, it is not be a Sister concern, Associate or Subsidiary of any other company.
• The company / firm has not been formed by splitting up or reconstruction of a business already in existence.
• The company / firm is a Startup as on the date of its application to the Bank.
• Turnover of the company / firm for any of the financial years since incorporation / registration has not exceeded one hundred crore rupees.
• The Intellectual property rights for the product/services that we wish to offer to SBI is owned by the firm/company. Further, we ensure that the application / product / solution, code, artefacts, scripts, etc. offered by us have been internally developed by us and not copied, pilfered, hacked, transferred, procured from any other company or individuals.
• The firm/company has obtained the 'Certificate of Recognition' as a Startup from the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, GOI as per Notification No. 127(E) dated 19.02.2019, OR in the process of applying for the same, and will submit the Certificate before formal engagement with the Bank.
• The company / firm shall provide training and complete knowledge transfer to Bank’s team within three years from the date of signing of the SLA between Startup and State Bank Group or before exit / termination of the project, whichever is earlier.

No documents are required to be submitted at the stage of filling the application.

Evaluation

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.

Further Information

Should you need any further clarification, please write to us at startup@sbi.co.in or call us at 022-27537196, 022-27537834 during office hours.