Nine MoUs signed, five companies inaugurated in Vizag Fintech Festival

The Vizag Fintech Festival on Tuesday stood witness to signing of nine MoUs and inauguration of five companies, which began their operations and projects in Andhra Pradesh.

Published: 24th October 2018 09:51 AM  |   Last Updated: 24th October 2018 09:51 AM   |  A+A-

CM N Chandrababu Naidu exchanging MoU with representatives of companies at the Fintech Festival at Hotel Novotel in Vizag on Tuesday G satyanarayana

By Express News Service

VISAKHAPATNAM: The Vizag Fintech Festival on Tuesday stood witness to signing of nine MoUs and inauguration of five companies, which began their operations and projects in Andhra Pradesh. CM N Chandrababu Naidu exchanged the MoUs with the respective companies during the Fintech Festival.  

A MoU has been signed with the HDFC bank, as they would promote Fintech Valley, Vizag among start-ups in the bank’s network. The government’s collaboration with the bank is expected to take care of the banking requirements of the start-ups, promote HDFC banking products within other government departments and explore prospects of an HDFC-backed Fintech Valley Accelerator programme
Another MoU was signed with Whub to set up an international landing pad in Hong Kong to enable the start-ups from AP to expand operations and leverage the investor ecosystem of Hong Kong. 

Another collaboration took place between Andhra Pradesh Innovation Society (APIS) and SOSA, to establish landing pads in Israel and NYC - physical operational bases, where start-ups, corporations and government representatives from APIS would have access to the SOSA innovation network and get connected to business opportunities and benefit from tailored business development assistance.

An MoU has also been signed with Sing Ex for hosting innovation festivals in AP. Two foundations - Wadhwani Foundation and Udhyam Association - will also be collaborating with APIS to promote entrepreneurship, innovation and start-ups in AP. 

The government will also collaborate with FinTech Association of Hong Kong for leveraging Hong Kong’s Fintech ecosystem and building an AP-HK gateway for Fintech start-ups and for knowledge transfer. The Fintech Festival also saw the launches of some of the innovative platforms focusing on the rural youth. While Cardlytics has launched its India operations in the Fintech Valley, with 30 jobs for the time being, DXC has been another unique programme to be launched in connection with rural employment. The pilot project will come up at Anantapur, where jobs will be taken to the rural villages. The project will be further expanded to the remaining districts. 

Bridge and Facebook, together have launched a rural entrepreneurs’ programme to identify entrepreneurs from rural areas. 

GITAM inks pact with CISI to train students in wealth management

Visakhapatnam: To offer investment and wealth management programmes in the country, GITAM Deemed to be University signed a MoU with the UK-based Chartered Institute for Securities and Investment (CISI). On Tuesday GITAM pro-vice-chancellor K Sivarama Krishna exchanged the MoU with CISI officials in the presence of Chief Minister N Chandrababu Naidu, during the Vizag Fintech Festival. The CISI is an international professional body developing world-class professionals across 116 countries with more than 45,000 members serving many multinational companies. 


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