Plug and Play and GIFT City Launch "IFIH," a Global Fintech Incubator and Accelerator

SINGAPORE, Nov. 15, 2024 /PRNewswire/ -- Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City's FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City's role as a premier global fintech hub.

GIFT City's MD and Group CEO, Mr. Tapan Ray, said, "Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy."

Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator 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."

The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.

Find out more about IFIH: giftifih.in

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.

For more information, visit www.giftgujarat.in.

Follow GIFT City on Twitter @GIFTCity_

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 60 locations globally, giving startups the necessary resources to succeed globally. With over 80,000 startups and 620+ corporate and government partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading VCs and host more than 1,000 networking events per year. Companies in our community have raised over $12 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, N26 and PayPal.

Our Asia Pacific headquarters was launched in Singapore in 2010 and we have since expanded into Malaysia, Indonesia, the Philippines, Thailand and India. Since then we have invested in more than 100 startups and have collaborated with various governments as well as multinational and regional corporations to multiply their innovation efforts through initiatives such as industry-specific accelerator programs.

For more information, visit www.plugandplayapac.com

For more information, contact:

GIFT City
Nisarg Acharya: +91 89800 06441
nisarg.acharya@giftgujarat.in 

Plug and Play
Manav Narang
m.narang@pnptc.com