KSUM inks pact with IFSCA to support fintech startups

Thiruvananthapuram, July 25 (KNN) The Kerala Startup Mission has joined hands with International Financial Services Centres Authority (IFSCA) to empower fintech and techfin startups through increased capital and a wider global network in the next three years.

The pact was inked between KSUM Chief Executive Officer Anoop Ambika and IFSCA Chief Technology Officer Joseph Joshy.

The MoU permits seeking inputs from each other on developmental matters relating to the fintech industry, while also collaborating on events that include global hackathons and education programs.

Both the organisations will jointly hold symposia, webinars, and conferences for the growth of fintech at IFSC in GIFT (Gujarat International Financial Tec-City) of Gandhinagar.

As per the MoU, KSUM-registered fintechs can find listed on international exchanges within IFSC to raise capital. The signatories can create a Joint Working Group or similar mechanisms to discuss mutual interests and remove difficulties. Also, KSUM-registered fintechs will get access to IFSCA’s Regulatory and Innovation Sandbox. They can also apply to the IFSCA FinTech Incentive Scheme 2022 for grants.

KSUM is Kerala government’s nodal agency established in 2006 for entrepreneurship development and incubation activities in the State.  (KNN Bureau)