Gujarat International Finance Tech City (GIFT City), India’s only International Financial Services Centre (IFSC), has collaborated with TiE, Inc. (TiE), a global non-profit network and organisation, and signed a Memorandum of Understanding on Tuesday.
The objective of this partnership is to promote economic growth and provide employment opportunities. The collaboration between GIFTCL and TiE comes as per the MoU to support innovation, attract investments and provide a conducive environment in GIFT City for business growth in India.
Additionally, as part of the MOU, a joint working committee with representatives from GIFTCL and TiE will be formed to oversee the collaboration activities. The committee’s aim is to discuss progress, address challenges and explore new opportunities. GIFT City will also host an annual entrepreneurship summit with the participation of the larger TiE network.
Read: How GIFT City incentives will lure startups back to India
“This partnership will enable us to attract top entrepreneurs and businesses to GIFT City and further strengthen our position as a leading hub for financial and technology services,” said Tapan Ray, MD and Group CEO, GIFT City.
Amit Gupta, Chairman of the Board of Directors of TiE Global and Group CEO of Ecosystm Group, said the MoU “will act as a catalyst for building capacity to create jobs, drive economic growth and shape innovation to transform and uplift societies and economies.”
The MoU outlines several areas of collaboration, including promoting GIFT City as the first choice for TiE members and portfolio companies, providing regulatory guidance and advisory services, assisting in securing necessary approvals, licenses and space allocations, and allowing access to GIFT City’s state-of-the-art infrastructure.
Additionally, TiE and its chapters will connect GIFT City with a global network of entrepreneurs and industry leaders to provide advice on improving the startup ecosystem and jointly host knowledge sharing sessions, networking events and boot camps.
