Struggling fintech start-ups to get a second chance with Afthonia Lab

Bengaluru will now have an incubator that promises to be different. Afthonia Lab, an incubator dedicated to early stage fintech start-ups, is looking to give fintech start-ups that are flailing or stagnating a second chance.

CEO and founder Tanul Mishra told BusinessLine that Afthonia Lab’s 12-month long incubation programme that is scheduled to start in July with its first batch of 4-5 fintech start-ups will graduate in June 2020. A 5,000 sq ft facility has been opened to house the start-ups for the programme.

“The incubator space is nascent in India with just 200-odd operating incubators, compared with 1,500-2,000 that operate globally. Most of the Indian incubators are either backed by the government or educational institutions. As a result, they face challenges in bringing in sharp business learnings into the space.