A collaborative framework will be established between GIFTCL and TiE to promote innovation, attract investments, and create an enabling environment for businesses in India through GIFT City
FinTech BizNews Service
Mumbai, June 25, 2024: Gujarat International Finance Tec-City (GIFT City) – India’s only International Financial Services Centre (IFSC) – has collaborated with TiE, Inc. (TiE, earlier known as The Indus Entrepreneurs) to drive economic growth, create employment opportunities through entrepreneurship, and facilitate a robust business ecosystem in the country. A memorandum of understanding (MoU) was signed on Tuesday in this regard between Gujarat International Finance Tec-City Company Limited (GIFTCL) and TiE – a global non-profit organization and network dedicated to fostering entrepreneurship.
Under the MoU, a collaborative framework will be established between GIFTCL and TiE to promote innovation, attract investments, and create an enabling environment for businesses in India through GIFT City. By leveraging the strengths of both organisations and their networks, the partnership seeks to drive economic growth and provide significant employment opportunities.
Areas of cooperation under the MoU include facilitating GIFT City as the preferred destination for TiE members and portfolio companies, providing regulatory guidance and advisory support, assisting in obtaining necessary approvals, licenses, and space allocation, and offering access to GIFT City’s world-class infrastructure facilities.
Additionally, TiE along with its chapters will facilitate connections between GIFT City and its global network of entrepreneurs and industry leaders, provide insights and recommendations on enhancing the startup ecosystem, and jointly organise knowledge-sharing sessions, networking events, and boot camps. Both parties will also engage in joint promotion and branding activities, collaborate on studies and research publications, and conduct outreach programmes targeting entrepreneurs and investors interested in the Indian market.
As part of the MoU, a joint working committee will also be formed with representatives from GIFTCL and TiE to oversee collaboration activities. This committee will meet periodically to discuss progress, address challenges, and explore new opportunities. An annual entrepreneurship summit will also be hosted at GIFT City involving the larger TiE network.
Mr. Tapan Ray, MD & Group CEO, GIFT City, said, “We are delighted to partner with TiE, a global leader in entrepreneurship. The collaboration will enable us to attract top-tier entrepreneurs and businesses to GIFT City, further solidifying our position as a leading financial and technology services hub. Together, we will create a dynamic ecosystem that supports growth and innovation.”
Mr. Amit Gupta, Chairman, Board of Trustees, TiE Global and Group CEO, Ecosystm Group said, “At TiE, we believe that entrepreneurship is not just good for business, it is good for the world, as it drives innovation that solves some of our biggest challenges. TiE and GIFT City are fortunate to find in each other a mutual sense of purpose for innovation and value creation. We are excited to sign this MoU with GIFT City that will serve as a catalyst for capacity building to create jobs, drive economic growth, and shape innovation to transform and uplift societies and economies.”
