The Software Technology Parks of India (STPI) launched its 24th Center of Entrepreneurship (CoE), named “FinGlobe,” at STPI-Gandhinagar, GIFT City. This initiative is aimed at fostering innovation and growth in the financial technology sector.
Inauguration and Participants
- Shri K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), inaugurated the CoE along with its maiden Open Challenge Program (OCP) for startups.
- Ms Mona K Khandhar, Principal Secretary of the Department of Science & Technology, Government of Gujarat, and other dignitaries were present at the inauguration.
Objectives of FinGlobe 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.
- It provides state-of-the-art infrastructure, expert mentorship, and a collaborative ecosystem 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 offers 50 Plug-n-Play incubation seats.
MoUs and Partnerships
- STPINext Initiatives exchanged five MoUs with CoE partners, including (n)Code Solutions, Centre for Advancing and Launching Enterprises (CrAdLE), Pandit Deendayal Energy University, GVFL Limited, and TiE-Ahmedabad.
Statements from Key Figures
- Shri K Rajaraman emphasized the importance of tax reforms in strengthening the Indian financial system and building trust globally. He highlighted the role of regulations in facilitating the growth of global-scale companies.
- Ms Mona K Khandhar expressed her support for making Gujarat a Fintech hub and emphasized the importance of leveraging technologies like artificial intelligence.
- DG STPI Shri Arvind Kumar highlighted STPI’s efforts in promoting the IT/ITeS industry and startups in Gujarat and the potential of the FinTech domain in the state.
Purpose and Impact of FinGlobe CoE
- The CoE aims to invest in technology and adapt to changing trends to enable startups to penetrate new areas of the financial system and change the competitive landscape.
- It provides a platform for startups and potential investors to innovate new products and services aligned with the latest trends.
Multiple Choice Questions (MCQs):
- Who inaugurated the FinGlobe CoE and its maiden Open Challenge Program?
- A) Shri Arvind Kumar
- B) Ms Mona K Khandhar
- C) Shri K Rajaraman
- D) None of the above
- Answer: C) Shri K Rajaraman
- How many Plug-n-Play incubation seats does the FinGlobe CoE offer?
- A) 25
- B) 50
- C) 75
- D) 100
- Answer: B) 50
- Which department collaborated with STPI in establishing the FinGlobe CoE?
- A) Ministry of Electronics and Information Technology
- B) Ministry of Finance
- C) Department of Science and Technology, Government of Gujarat
- D) Department of Financial Services
- Answer: C) Department of Science and Technology, Government of Gujarat