MUMBAI: Bajaj Finserv has launched a new division, Finserv Intelligence, which it may carve out as a separate business in future. Through Finserv Intelligence, Bajaj will invest Rs 1,500 crore to Rs 2,000 crore in early-stage start-ups in AI/fintech, cybersecurity and consumer technology platforms, and will also co-create new ventures. By building applied research capabilities in these sectors, Bajaj is positioning itself to capture market share in the next generation of large global industries.To launch the initiative, Finserv Intelligence has partnered with IIT Bombay. An MoU and Master Collaboration Agreement have been signed to establish a joint research centre and define a joint statement of work spanning AI, cybersecurity, quantum technologies and the reimagining of the physical retail experience.“Niti Aayog’s recent report cites how India’s R&D intensity is a fraction of what comparable economies invest, and private capital must do more of the lifting. Finserv Intelligence is our commitment to that shift, bridging the gap between academia, industry and national priorities. With IIT Bombay, we are putting India’s finest scientists and most ambitious founders at the centre of solving problems that matter to a billion-plus Indians,” said Sanjiv Bajaj, chairman and MD, Bajaj Finserv.The investment in start-ups will be made through various companies in the Bajaj Finserv group over a five-year period. Funds will be managed by a dedicated investment team.
