Gandhinagar, November 14: Gujarat International Finance Tec-City (GIFT City) has announced the launch of the GIFT International Fintech Institute (GIFT IFI) and the GIFT International Fintech Innovation Hub (GIFT IFIH)—a dedicated fintech incubator and accelerator, supported by the Asian Development Bank (ADB). This marks a pivotal step in GIFT City’s journey to becoming a global centre for fintech education, innovation, and start-up growth. These initiatives are set to transform the fintech landscape, strengthening GIFT City’s position as a premier international hub for financial technology and attracting world-class talent and industry attention to India.
The GIFT IFI will be led by a distinguished consortium comprising Ahmedabad University, in collaboration with IIT Gandhinagar and the University of California, San Diego. The training programs, set to commence in January 2025, are designed to equip professionals with industry-aligned skills essential for the modern financial sector. The institute will empower the next generation with the capabilities needed to excel in high-growth careers in global finance. Complementing this, the GIFT IFIH—led by Plug and Play, a global accelerator platform—aims to provide essential resources, expert mentorship, and expansive networking opportunities to startups, offering them a dynamic space to scale and succeed in a competitive fintech landscape.
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Sharing GIFT City’s vision behind the initiatives, Tapan Ray, MD & Group CEO of GIFT City, said, “Launching the GIFT IFI and GIFT IFIH is a key achievement in GIFT City’s cherished journey towards creating a globally-connected, resilient ecosystem that supports diverse innovators and establishes India as a fintech leader. With the backing of renowned partners in fintech education and incubation, GIFT City is poised to ensure a steady stream of cutting edge talent, while generating pioneering solutions that will reshape the financial services landscape.”
These initiatives are expected to establish a vibrant and inclusive ecosystem fostering fintech innovation and entrepreneurship, thereby strengthening India’s fintech sector. By focusing on skill enhancement, research support, and start-up development, GIFT City aims to contribute to employment growth, workforce productivity, and technological advancement in financial technology.
The GIFT IFI and GIFT IFIH are specifically designed to meet several critical goals that will shape the fintech sector in India. First, they will offer training programmes aligned with international industry standards, building an environment conducive to start-up incubation and acceleration. A particular focus will be placed on supporting women entrepreneurs, promoting an inclusive ecosystem that encourages diverse talent and perspectives.
Additionally, the initiatives will drive applied research to create fintech solutions, bridging the gap between academic research and industry needs. These initiatives will encourage industry partnerships that strengthen innovation capacity and sector competitiveness, cementing GIFT City’s reputation as a centre for global fintech excellence.
Professor Pankaj Chandra, Vice Chancellor of Ahmedabad University said, “Growth of the Indian economy will be secularly linked to financial intermediation, creation of new kinds of jobs, and innovation in technology and business models in fintech. We, Ahmedabad University, IIT Gandhinagar, and UC San Diego are committed to grow the larger fintech ecosystem by bringing our extensive institutional strengths towards developing cutting edge fintech training and academic programme at the International Fintech Institute. We will build a new talent at scale and with global capabilities by collaboratively developing programmes with industry and leading global academics. Together, we will address the evolving needs of the financial sector with innovative solutions and through deep applied research, provide new ideas to the industry and the regulators. The Institute will also work closely with industry to reorient early and mid-career managers towards technology driven financial solutions and service.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for IFIH added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
About GIFT City
GIFT City, India’s first operational smart city and maiden International Financial Services Centre (IFSC), is a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. As a leading Central Business District (CBD), GIFT City offers significant advantages such as reduced operational costs, favourable tax policies, and a vibrant community, making it the top choice for global and domestic companies in BFSI, IT/ITeS, fintech, international education, and other service sectors.
A ‘Project of National Importance’, GIFT City encompasses office spaces, residential areas, school, hospital, hotels, clubs, retail outlets, and recreational facilities, creating a truly ‘walk-to-work’ environment. Pioneering innovations and sustainable solutions implemented in GIFT City, such as the District Cooling System, Automated Waste Collection System, and Utility Tunnel, have set new standards in urban development.
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