Fintech solutions provider Infibeam Avenues Ltd on February 16 announced its foray into the 'Fintech Startup Management' space, making it the first company to initiate and implement project and facility management services for the startup ecosystem in Gujarat.
The company has incorporated a wholly-owned subsidiary – Infibeam Project Management Private Ltd (IPML) in GIFT City for providing software & fintech startups with pre-build infrastructure, tools and resources to grow the business.
The 'Fintech Startup Management' space is a very recent emerging business model and is at a very nascent stage, where the startups are provided with capital-intensive & complex tech & software infrastructure, software tools (licensed and free versions) and other resources, almost in a plug-and-play mode. Thus, startups can focus their energy on their core business, the company said in a statement.
Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd said, "This time, Gujarat won't miss the IT bus. Technologies have evolved, and with a tech-friendly new policy, the state will attract a large number of software & fintech startups and companies. Our new venture – Infibeam Project Management Private Ltd, will tap the new emerging opportunities by aiding the software & fintech startups with required pre-build infrastructure and ecosystem.
The Gujarat government recently unveiled its new policy for information technology (IT) and information technology-enabled services (ITeS) to attract new IT/ITeS companies in Gujarat.
The new policy provides support for both capital (CAPEX) and operational (OPEX) expenditures.Under CAPEX support, eligible IT/ITeS will get support up to Rs 50 crore to Rs 200 crore, while under OPEX support, up to Rs 20 crore to Rs 40 crore will be provided.