Karnataka govt announces Centre of Excellence in FinTech

Karnataka government has announced the establishment of a Centre of Excellence (CoE) in FinTech in collaboration with the Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore.

Mission: The CoE aims to accelerate the growth of FinTech in Karnataka by leveraging its thriving entrepreneurial ecosystem, fostering innovation, and providing extensive support to startups in the financial technology sector.

Budget: An estimated budget of ₹13.24 crore has been allocated for the CoE's operations over a five-year period. 

Programs: The CoE will focus on incubation and acceleration programs (₹8.19 crore) and skilling and training initiatives (₹5.04 crore).

Collaboration: The initiative is a partnership between the Karnataka Department for Electronics, IT, BT, and Science & Technology, and NSRCEL at IIM Bangalore.