Fintech festival a shot in the arm for Brand Vizag

Updated Date: 10/27/2018

Category: Information Technology News

Many global startups keen on investing in city, says IT Adviser to CM

The Brand Vizag  received a global visibility with the successful conduct of Vizag Fintech Festival that concluded with the delegates being taken around for sight-seeing in and around the city on Friday.

The mega event that had several brain-storming sessions on fintech, startup ecosystem, digitisation, data security and disruptive technologies, saw confirmation of the proposals by 75 firms with an investment of ₹500 crore which are claimed to generate jobs for around 50,000 in next three years.

The festival saw participation of 2,000 delegates representing 20 countries. Prior to the event, the roadshows organised in Chicago, New York, San Francisco, London, Tel Aviv, Hong Kong and Bengaluru led to pitching of innovative ideas by 40 global startups, majority of whom have come forward to launch operations in Visakhapatnam.

Many of the delegates, who came to the city for the first time, found the startup ecosystem amazing and signed MoUs with the State government to make Fintech Valley Vizag, an initiative of the government for creation of a sustainable ecosystem for startups, as a prominent hub.

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, J.A. Chowdary, Special Chief Secretary and IT Adviser to Chief Minister, told The Hindu.

After visiting the Sunrise Incubation Towers and Fintech Tower at Rushikonda and interacting with startups, he said, many fintech associations and investors evinced interest for interactive programmes.

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