IT Adviser conveys to the CM that many global start-ups are keen on investing in the city. With the successful conduct of Vizag Fintech Festival, the ‘Brand Vizag’ established a global prominence. The festival came to an end with the delegates being taken on a city tour.
The result of the mega-event that had numerous buzz-sessions was the validation of the pitches by 75 firms with an investment of ₹500 crores which would produce jobs for around 50,000 in the next three years. The discussions centred on Fintech, start-up ecosystem, data security, digitisation and disruptive technologies.
2,000 delegates took part in the festival on behalf of 20 countries. Preceding the event, the roadshows held in the cities of Chicago, New York, San Francisco, London, Tel Aviv, Hong Kong and Bengaluru headed a slew of pioneering ideas by 40 global start-ups, with most of them looking forward to take-off in Visakhapatnam.
Fintech Valley Vizagis an enterprise of the government created for a supportable ecosystem for start-ups, as a leading hub. Majority of the delegates, who were visiting the city for the first time, found the concept of thestart-up ecosystem incredible and signed MoUs with the State government.
J.A. Chowdary, Special Chief Secretary and IT Adviser to Chief Minister, shared that “The response has exceeded our expectation. Visakhapatnam has become the talking point all over the world. Now, investors are coming forward to invest liberally in Fintech sector. It is a big boost to Brand Vizag.”
Mr Chowdary further stated “Start-ups from Hong Kong, Singapore, Israel and others signed pacts to open offices in the city. They will provide access to their network of mentors, domain experts and investors to local start-ups and explore collaborative opportunities.”
Most of the Fintech associations and investors exhibited curiosity for collaborative programmes after a fruitful visit to the Sunrise Incubation Towers and Fintech Tower at Rushikonda.
For the duration of the Fintech festival the Federal Bank, HDFC, Cadalytics, DXC and some other corporations like wise began several programmes for rural employment, funding start-ups and promotion of digital technologies.