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March 27, 2023 10:28 pm | Updated 10:28 pm IST – KOZHIKODE
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Prof. Rajesh Upadhyayula, Executive Director, IIMK LIVE, and Joseph Joshy, Chief Technology Officer, IFSCA, after signing the agreement with members of IIM-K LIVE and IFSCA.
The Laboratory for Innovation Venturing and Entrepreneurship (LIVE) of the Indian Institute of Management, Kozhikode (IIM-K) and the International Financial Services Centres Authority (IFSCA) inked a historic agreement to aid fintech start-ups in India.
IFSCA and LIVE, IIM-K’s start-up incubator, have agreed to mutually cooperate and collaborate to support and facilitate FinTech start-ups by launching the fintech accelerator program FINN X. IFSCA is a statutory authority established by the Government of India.
The agreement was signed between Prof. Rajesh Upadhyayula, Executive Director, IIM-K LIVE, and Joseph Joshy, Chief Technology Officer, IFSCA.
A press release said here on Monday that the Fintech start-ups as part of the FINN X Accelerator programme at IIM-K LIVE would receive mentorship, training, market access, and funding support from IFSCA under its FinTech Grant scheme which offers grants up to ₹75 lakh. IFSCA will allow FinTechs registered with IIM-K LIVE to list on International exchanges with IFSC to raise capital.
Both parties will collaborate with each other in FinTech events, global hackathons, and educational programmes organised by them jointly from time to time.
In his message commemorating the landmark signing of the agreement, Prof. Debashis Chatterjee, Chairman, Board of Governors, IIM-K LIVE, and Director, IIM-K, said, “This collaboration with IIM-K LIVE and IFSCA is phenomenal. IIM-K LIVE and IFSCA can provide mentorship, market access, and funding support to FinTech start-ups. Our Innovation Centre LIVE has scripted transitions for many successful early-stage start-ups, and we forecast a new emphasis on ‘innovation’ in the finance sector as a result of this game-changing collaboration.”
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