New Delhi: The Software Technology Parks of India (STPI), an autonomous body under the Ministry of Electronics and Information Technology, Government of India, has unveiled its 24th Center of Entrepreneurship (CoE) called “FinGlobe” in Gandhinagar. This initiative, launched in collaboration with the Department of Science and Technology, Government of Gujarat, aims to bolster innovation and growth within the financial technology sector.

The inauguration ceremony was graced by K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), who also kickstarted the CoE’s maiden Open Challenge Program (OCP) for startups. Among the dignitaries present was Mona K Khandhar, Principal Secretary of the Department of Science & Technology, Government of Gujarat.

With a focus on fostering cutting-edge technologies in financial services, the FinGlobe CoE is equipped with modern infrastructure, expert mentorship, and a collaborative environment. It aims to empower startups, entrepreneurs, and established players to innovate and expand their solutions in FinTech, TechFin, Banking Industry, and related domains, offering 50 Plug-n-Play incubation seats.

During the event, STPINext Initiatives exchanged five MoUs with 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), Pandit Deendayal Energy University, GVFL Limited, and TiE-Ahmedabad.

K Rajaraman emphasized the significance of the FinGlobe CoE in building global-scale companies through technology platforms and ensuring a conducive regulatory environment for foreign investors in India. Ms. Mona K Khandhar highlighted the CoE’s role in making Gujarat a FinTech hub and leveraging technologies like artificial intelligence.

Arvind Kumar, DG STPI, underscored STPI’s role in promoting the IT/ITeS industry and startups in Gujarat, stating that the FinTech CoE will provide essential support such as incubation infrastructure, sandbox environment, mentoring, and industry connections.

The CoE’s establishment aims to enable startups to tap into new areas of the financial system by investing in technology and adapting to evolving trends, thus fostering innovation and transforming the competitive landscape in the financial services sector.