India and the Asian Development Bank (ADB) have signed a $23 million loan agreement for the development of a Fintech Institute at GIFT-City.
Key highlights of the project:
- The project envisions partnerships with globally renowned institutes and universities.
- The goal is to advance fintech education, thereby improving the success rates of startups in this sector.
Focus on Market-Driven Skills:
- The initiative will concentrate on delivering fintech skills programs driven by market demands.
- Creating an ecosystem that is conducive to private sector investments is a key objective.
Innovative Training Programs:
- Industry-aligned training programs will be implemented to foster innovation and entrepreneurship.
- There is a specific emphasis on supporting women-led startups through incubation and acceleration programs.
Collaboration with Industry and Venture Capital:
- The institute will collaborate with industry leaders and venture capital firms.
- This is intended to support the growth of fintech startups, ultimately leading to better employment opportunities and increased workforce competitiveness.
Research and Support:
- The project will provide research support in various niche areas such as climate fintech, regulatory technology, social inclusion, and gender equality in finance.
- Additionally, it aims to develop a state fintech readiness index to assess and enhance fintech infrastructure and services.
Ref:Source
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