IIMB to establish ‘Centre of Excellence for fintech’ backed by govt

Share This Post


The Karnataka government will establish a Centre of Excellence (CoE) in fintech in partnership with NSRCEL (Nadathur S Raghavan Centre for Entrepreneurial Learning)– IIMB’s incubation centre on Monday.

The CoE aims to accelerate the growth of fintech in the state by leveraging its thriving entrepreneurial ecosystem, facilitating innovation, and providing extensive support for startups in the financial technology sector.

The government has allocated Rs 13.24 crores for the centre’s operations over a five-year period. The incubation and acceleration program costs are estimated at Rs 8.19 crores, while Rs 5.04 crores have been allocated for the skilling and training programmes, stated a government release.

The CoE will run a 12-month programme for 20 startups, offering mentorship, industry insights, infrastructure, office space, and networking opportunities to help them grow.

NSRCEL will lead the CoE as the implementing agency and drive innovation through startup incubation, acceleration, skill development programmes, and sandbox environments for the startups.


Karnataka’s Minister for IT-BT, Priyank Kharge, said the centre will aid in establishing the state as the fintech capital of the country.

Discover the stories of your interest


“Karnataka’s tech ecosystem is taking a significant leap forward as we focus on fostering innovation and entrepreneurship in the dynamic realm of financial technology. By leveraging the domain expertise of IIM-Bangalore alongside comprehensive support for startups, we aim to not only accelerate the growth of fintech ventures but also develop a skilled workforce ready to meet the demands of a digital economy.”



Source link

spot_img

Related Posts

New Malayalam OTT Releases This Week: Thekku Vadakku, Adithattu, and More

As Malayalam cinema continues to thrive, November 2024...

Will Sam Altman always win the OpenAI board fight in an AI agent simulation?

Join our daily and weekly newsletters for the...

My favorite Edifier desktop PC speakers are 30% off right now

You don’t need incredible, teeth-rattling power for a...

Best USB-C hubs and dongles 2024: Add ports to your laptop or tablet

The best USB-C hubs will expand your laptop’s...

Policy Boss At X Nick Pickles, Joins Sam Altman

Move to Elon Musk rival. Former senior executive...

This giant LG 240Hz OLED ultrawide monitor is $700 off right now

Oh boy. We’re just over a week away...
spot_img