HSBC India launches SYNC Challenge in collaboration with Z Nation Lab

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SYNC Challenge is a part of the SYNC Series 1.0 consisting of four parts: the SYNC Challenge and three events: SYNC Global Connects, SYNC Early Exits and SYNC Debt Funding.

HSBC India has collaborated with Z Nation Lab to launch SYNC, a series of roundtable discussions, focused at early stage startups looking at sustained knowledge exchange and networking opportunities. As a part of this collaboration, a series of roundtable discussions and the SYNC Challenge will be organized on a monthly basis during the course of the next three months.

Understanding that the key growth ingredient for any rising start-up is “Capital”, with the Sync Challenge, HSBC has committed to play a catalyst’s role and help startups raise the needed working capital.

HSBC India is looking to co-create a “Smart-Scoring” platform that considers all financial, heuristic, market and non-market, critical and non-financial parameters in evaluating startups for lending and/or venture debt financing. The SYNC Challenge is a call to arms for to startups and FinTechs alike.

The SYNC Challenge will require participants to address a problem statement laid out by HSBC Bank.

Anuj Kanwar, Head Transaction Banking, Business Banking said “It is encouraging to see young minds incubating new ideas every day. However, they must up their ante to actively seek wisdom on business models, operational viability, scalability, talent management and investments; among many other aspects of building a business firmly rooted in the ground. ‘SYNC’ is in alignment with the vision of HSBC India and will facilitate many-exchanges that will help them sharpen their concepts, reiterate their strategies if required and focus on what matters.”

Early-stage or matured startups with an MVP addressing a defined problem statement having at least one or more clients can apply for the SYNC Challenge.

Participants in the SYNC Challenge will get an opportunity to showcase their startups to a jury consisting of HSBC India Senior Management and representative from major Venture Capital Firms, raise working capital and/or debt funding.

Neha Jain, Partner and CMO at Z Nation Lab informed “We are continuously building up our resource bank to aid growth, innovation and scale in early stage startups. We highly encourage young entrepreneurs to come forward and learn through this multitude of discussions and programs that will follow.”

Applications for SYNC Challenge are open until May 20, 2019.

For all other details about the programme, one can visit: http://www.sync.znationlab.com/