Lankan payments startup Kashmi picked for intl. tech accelerator program
Monday, 1 September 2014 00:26
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Kashmi, a peer-to-peer (P2P) payment application founded by Rakhil Fernando, Mufaddal Lukmanjee, Sanjiv Alles and Rajinda Jayasinghe, has been selected to participate in the Dubai-based, TURN8 accelerator program backed by DP World.
“We are honoured that Kashmi has been recognised as one of the top 12 ideas from a global pool of over 300 applicants,” says Kashmi CEO Rakhil Fernando. “Kashmi is a simple solution to a very common problem, and we believe that TURN8 will truly help us reach our potential.” Kashmi will be rolled out across several Asian countries in the near future.
The goal of the TURN8 program is to foster a global entrepreneurial and innovation culture by boosting business know-how and accelerating the commercialisation of promising concepts to market. This revolutionary program strategically scouts groundbreaking new ideas around the world and seeks to enrich, refine and bring them to market.
The Kashmi team, along with founders from other startups selected for the current round of TURN8, will travel to Dubai, UAE for four months where they will receive guidance in how to roll out their business, mentorship and coaching from subject matter experts and local entrepreneurs, and receive seed funding and services. This is the third round of acceleration for TURN8, which was launched in April 2013.
At the end of the four months, teams that graduate from the TURN8 program will be invited to participate at an Investor Demo Day, where they will have the chance to present their new business to investors from around the world.
