FinTechAppscale Academy – An Initiative for Upscaling Innovation and Bringing Digital Transformation in India

July 29, 20220

INTRODUCTION

In the recent times start-ups, as well as developers, are acting as the key drivers behind upscaling innovation and bringing digital transformation in India, and taking. In the year 2020, Made-In-India applications (hereinafter referred to as “apps”) gained a lot of momentum and popularity, even beyond our national boundaries. Notably, the Indian market for digital platforms grew by approximately 200% compared to the year 2019. These figures indicate the potential that Indian companies possess to compete not on domestically but globally.

The Ministry of Electronics & Information Technology, Government of India (hereinafter referred to as “MeitY”) Start-up Hub and Google, considering the vast potential these Indian companies have and in order to provide a nurturing platform to further upscale the benchmark and develop innovative applications to compete at global level, came up with the idea of Appscale Academy Program.

in this article we attempt to discuss why the platform of Appscale Academy was introduced, what are its goals, its focus areas, salient features an dhow it is helping in upscaling innovation and bringing digital transformation in India. 

WHY IT WAS INTRODUCED

The platform of Appscale Academy is introduced to help, support, and guide beginner to mid-stage App developers of India and those whose parent company is in India to build an innovative and better applications, which can be used at a global level. Consequently, paving way for innovators to grow a successful global business.

A total of 400 FinTech companies had applied to enroll in the program, out of which 100 applicants have been chosen for a six months program. During this program the candidate companies’ existing Apps are reviewed, developed and strengthened. In addition to this, wide range of marketing strategies are discussed to adequately market their respective applications to build a better market space globally.

The aim of the program is to gain visibility of their candidates businesses at global level. Therefore, in order to achieve the desired objective the candidate companies are be guided in varied cohort’s being gaming, education, health, finance, social and e-commerce.

This program also promotes and support the core communities in India through creative apps across varied fields like Agriculture, B2B (Business to Business), Patenting, Health Care, Education, and many more to solve the problem with homegrown solutions, including BitClass (a live learning platform), Farmyng Club (a social platform for farmers to enhance their way of life), Kutuki (a preschool learning software), Sunita’s Makerspace (a community to inspire invention), Stamurai (a platform delivering reasonably priced, top-notch speech therapy), and LearnVern (a job-oriented skilling programme offering), MediBuddy (learning platform), iMumz (Wellness Program) etc.

In furtherance of the above, this program also trains candidate company with “Customized Curriculums”, which includes group and personal virtual instructor led webinars, self-learning material, and personal mentorship sessions with leading local and global industry professionals.

FOCUS AREAS

The Appscale Academy will focuses on six major areas, which will help to develop a better application.

They are as follows

  • app quality
  • global presence
  • regular growth
  • design of the application
  • the policies
  • data safety and protection.

GOALS OF APPSCALE

Google had noticed the tremendous growth in India’s digital platform over the course of time. Hence,  Google has collaborated with MeitY to launch Appscale Academy Program. The main objective of this program is to support and promote developers and focus on the development of the unique homegrown solutions for people all around the world.

In view of the above, to support and guide the developing business startups, this platform has been formed in India’s Tier I, Tier II, and Tier III cities to create scalable app solutions.

Furthermore, the objective of Appscale Academy is not limited to this, it also focuses on the development of the business of each Applicant because many applications from India have achieved global success in previous years. Thus, Appscale Academy concentrates on the business as well as the development of its application.

SALIENT FEATURES OF APPSCALE ACADEMY

The Appscale Academy is only a production-ready platform with full Google Application Engine compatibility. There are various free-of-charge development options, which allows for execution on all public or private cloud system, as a result the application is hassle-free and easy to use. Moreover, the Application is a perfect combination of convenience, flexibility, and control over the data for its user.

Furthermore, the user would get a wide range of services such as, data safety as a result of automatic configuration, scaling and fault tolerance, portable and hybrid application development across clouds and services, uniformity across all developments and it will provides free customizable execution environment for web apps, services, and mobile backends.

AMLEGALS REMARKS

The Appscale Academy Program an initiative of MeitY and Google, introduced with the agenda of upscaling innovation and bringing digital transformation is beneficial not just for the local application developers but for the entire nation as well, since with the guidance, training, and resources provided under the Appscale Academy, it allows its candidates to built an innovative application than can cater the needs at a global level.

In the year 2022, the first batch of Appscale Academy was started in which out of the 400 applicants, 36% were from Tier-II and Tier-III cities and 58% were Women, which shows there is huge potential in India, which can be developed with initiatives like Appscale Academy. However, the Appscale Academy program is currently launched with the agenda to cater short-term needs.

Nonetheless, the government of India will such collaborations will introduce more initiatives to cater the long-term needs and further develop the technology sector to make India the FinTeh hub and Innovation hub of the world.

– Team AMLEGALS, Assisted by Ms. Shreya Daga (Intern)


For any query or feedback, please feel free to get in touch with tanmay.banthia@amlegals.com or prarthana@amlegals.com

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