Paytm, an online payments service provider, is now winding up to stretch its support to the engineering students. Company has been chalking the plans to roll out scholarships programmes called #StartInCollege to back the engineering students who have enrolled on digital incubator startup village or SV.CO's website.
Paytm has already mapped a selection procedure and initially, it will be selecting pools of student from various engineering colleges. This selection will be done through a challenge on coding and video, which will be organized by Paytm. Screened groups will then be scrutinised further in two face-to-face rounds and once the final group is shortlisted, it will be then taken through a six-month programme involving ideation, prototyping and customer validation.
With this initiative, the company is aiming to nurture the young budding entrepreneurs who are very keen to float their startups in Silicon Valley along with SV.CO, which is a guided target-based system for learning to create great startups.
Speaking about the initiative, Shankar Nath, Senior Vice-President, Paytm told one of the dailies that once enrolled in the programme, students can interact with customers and use insights to build great products and prototypes. For university certification, there are partnerships with university boards that offer a degree on completion of the six-month SV.CO programme. Founders of the companies will receive targets that they either complete individually or as a team.