New Delhi [India], March 11 (ANI): The Software Technology Parks of India (STPI), an autonomous society under the Ministry of Electronics and Information Technology, inaugurated its 24th Center of Entrepreneurship (CoE) – “FinGlobe” in Gandhinagar, Gujarat.
According to a press release by the Ministry of Electronics and Information Technology (IT), the launch event, held at STPI-Gandhinagar within GIFT City, saw the inauguration of the CoE and its maiden Open Challenge Program (OCP) by K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA).
Accompanied by Mona K Khandhar, Principal Secretary of the Department of Science and Technology, Government of Gujarat, and other dignitaries, K Rajaraman emphasized the importance of nurturing startups in the fintech sector to build global-scale companies and technology platforms.
He expressed his support for the FinGlobe CoE, highlighting its potential to develop solutions for the global market and bolster India’s reputation as a trusted financial ecosystem.
K Rajaraman said, “If we look at the economic reforms that have happened in the last 25 years, the most important reform is the tax reform. This helped in improving the health of the Indian financial system and financial sector at large. Financial institutions are all healthier because of this reform. All of them have become more prudential when it comes to managing their finances. All these enabled us to build the financial ecosystem, building trust globally.”
He added, “In every sector, we have to have global-scale companies and technology platforms can help to achieve that. We at IFSCA are building such regulations so that foreign investors don’t face any issues when they land in India. With this FinGlobe CoE, startups will build solutions for the rest of the world. We are happy to support and facilitate this CoE.”
The FinGlobe CoE, established in collaboration with the Department of Science and Technology, Government of Gujarat, aims to catalyze the development and proliferation of cutting-edge technologies within the financial services domain, read the press release.
Equipped with state-of-the-art infrastructure, expert mentorship, and a collaborative ecosystem, FinGlobe CoE seeks to empower startups, entrepreneurs, and established players to ideate, innovate, and scale their solutions in the FinTech, TechFin, Banking Industry, and allied domains.
The CoE provides 50 Plug-n-Play incubation seats to facilitate the growth of startups.
During the event, five Memorandums of Understanding (MoUs) were exchanged between STPINext Initiatives and its CoE partners, including (n)Code Solutions (IT Division of GNFC Limited), Centre for Advancing and Launching Enterprises (CrAdLE) at the Entrepreneurship Development Institute of India (EDII), Ahmedabad, Pandit Deendayal Energy University, Gandhinagar, GVFL Limited, and TiE-Ahmedabad, further solidifying the commitment towards fostering innovation and growth in the fintech sector, read the press release.
Mona K Khandhar lauded the launch of the CoE as a crucial step towards establishing Gujarat as a fintech hub, emphasizing its potential to deepen the ecosystem of fintech further.
She also highlighted plans for a hackathon and onboarding of startups, emphasizing the state’s commitment to leveraging technology, particularly artificial intelligence, to drive innovation.
Khandhar said, “The launch of this CoE is an important journey towards making Gujarat a Fintech hub. All these efforts will deepen the ecosystem of FinTech further.”
She added, “We have also planned a hackathon and start onboarding the startups. We have a long association with STPI. The disruption in IT sector continues with the emergence of artificial intelligence and we are working to leverage this technology.”
Speaking on the occasion, Arvind Kumar, Director-General of STPI, underscored the organization’s active role in promoting the IT/ITeS industry and startups in Gujarat, read the press release.
He expressed confidence in the potential of the fintech domain and the role of the FinGlobe CoE in driving digital transformation, fostering job creation, and contributing to Gujarat’s emergence as a prominent IT destination.
Kumar said, “STPI is actively engaged in promoting IT/ITeS industry & startups in the state of Gujarat through its two centres in Gandhinagar and Surat. Both centres are driving digital transformation, fostering job creation, and contributing to Gujarat’s emergence as a prominent IT destination in times to come.”
“Now, seeing the potential of FinTech domain in the state, STPI is expanding its footprint by establishing its 24th CoE in the FinTech domain at GIFT-City in partnership with the Department of Science and Technology, Govt. of Gujarat. This FinTech CoE will provide the requisite support like state-of-the-art incubation infrastructure, Sandbox Environment, Industry APIs, Payment Gateways, mentoring, industry & market connect to the startups,” he added.
The FinGlobe CoE represents a crucial investment in technology and innovation, providing a platform for startups and potential investors to collaborate, innovate, and shape the future of the financial system. (ANI)
