New Delhi: The International Financial Services Centers Authority (IFSCA) and PIEDS BITS Pilani have signed a Memorandum of Understanding (MoU) at BITS Pilani PIEDS Finxcelerator, located at the Pilani Campus in Rajasthan. The purpose of this MoU is to establish a framework for collaboration and cooperation between IFSCA and BITS Pilani PIEDS Finxcelerator in supporting and facilitating FinTech and TechFin entities.
IFSCA, responsible for the development and regulation of international financial services, including insurance, within the IFSC, operates as a distinct international financial jurisdiction separate from the rest of India. The objective of IFSCA is to establish strong global connections, cater to the needs of the Indian economy, and serve as an international financial platform at regional and global levels.
PIEDS TBI BITS Pilani, a non-profit society encompassing Pilani Innovation and Entrepreneurship Development Society (PIEDS), is involved in a range of initiatives such as incubation, acceleration, seed funding, and innovation. PIEDS has successfully supported over 170 startups, incubated 132 startups, and provided funding to 62 startups. Our mission is to offer premium support for DeepTech Innovations by providing cutting-edge technology labs, mentorship from experts, opportunities for product innovation, and acceleration programs. Our pool of expert mentors excels in the fields of defense and aerospace, robotics, IoT, and other related areas.
Through this MoU, cooperation, and collaboration will be fostered on diverse initiatives related to FinTech.
FinTechs registered with BITS Pilani PIEDS will have facilitated access to IFSCA's Regulatory and Innovation Sandbox, as well as the opportunity to apply for the IFSCA (FinTech Incentive) Scheme, 2022.
