YES BANK becomes 1st Bank in India to Partner Maharashtra Smart Cities to Tackle Urban Development Challenges, Bosch and Dell EMC Pledge Support

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Mumbai, July 20, 2018: YES BANK, India’s fourth largest private sector bank, announced partnership with Aurangabad and Nasik smart cities in Maharashtra to launch an industry-first ‘Collaboration-as-a –Service’ platform to address urban development challenges. As a part of its newly launched YES SCALE Smart City Accelerator, the Bank is inviting startups from around the world to collaborate with technology leaders like Bosch and Dell EMC and work on problem statements provided by respective smart cities. As a partner to the programme, PwC has also committed to leading strategic partnerships & advisory and implementation of innovative solutions in the smart cities.

Commenting on the development Mr. Rana Kapoor, MD & CEO, YES BANK said, “This is a significant step towards creating ‘Collaboration-as-a-service’ economy and re-looking at urbanization as an opportunity, not a problem. YES BANK’s cross industry collaboration through YES SCALE Smart City accelerator will empower these cities with innovative solutions to seamlessly connect people, processes & devices and enable administrators to respond faster to citizen’s needs while also creating new revenue sources. The strategy is fully aligned with the national agenda of moving India from Fragile 5 to making India a USD 5 tn economic super power.”

YES BANK’s YES SCALE Smart City accelerator has created an ecosystem to help startups test, develop and deploy their solutions across the cities and further scale across the country-

ü Technology Infrastructure Support: Bosch and Dell EMC Digital Cities will provide testing, development and deployment infra support to help startups implement their solutions

ü Digital Infrastructure: Cloud Credits, Analytics tools support from AWS and Google Cloud

ü PoC Support: With more than 85% of India’s tech startups affected by non-paid PoCs, the program offers a support of INR 20 lakhs for PoC development during the program

ü Mentorship: 50+ Technology and scale up experts across the world

ü Funding Option: Affiliate startups can raise equity funding of upto USD 1 mn through fund partners Artha Ventures, CIIE, Anthill, Unitus Ventures

ü Global Exposure: Global platforms like UK India Innovation Fund, New Energy Nexus are also supporting the ecosystem

YES BANK’s partner Smart Cities have identified challenges unique to their administration to address through YES SCALE Smart City, like, city wide data collection & analytics using IoT, blockchain and AI, Development of Open Data toolkit, Smart Traffic & Parking Management using video analytics, IoT and sensors, Intelligent, Optimized Public Transit systems, Automated Grievance collection and Response management, Intelligent Waste Management solution including smart labels, tippers and waste maps, Metering & Monitoring water supply, Smart air pollution monitors and efficient converters, Sensors for automated assistance of physically impaired citizens and Centralized dashboards to map and monitor utilities etc.