News on Medial

Karnataka To Launch Integrated Fintech Programme Soon

Inc42 · 1y

The Karnataka government is planning to establish a Centre of Excellence (CoE) for fintech startups, focusing on nurturing talent, leadership, entrepreneurship, and fostering innovation. The state's IT/BT Minister, Priyank Kharge, revealed that Karnataka has 1,300 active fintech startups, with 12 out of 23 fintech unicorns based in Bengaluru. The government aims to create a Fintech Regulatory Support framework to encourage innovation and industry growth. Last year, Karnataka announced plans to invest INR 25 crore in setting up a fintech hub in Mangaluru and launched the Startup Karnataka Policy 2022-2027 to support and strengthen the startup ecosystem.