Bengaluru Tech Summit 2021: Karnataka sets up new Fintech task-group

Fintech task-group will be spear headed by Harshil Mathur, founder, and CEO, Razorpay.

From Left to Right:- Shailendra Tyagi, Director - STPI-Bengaluru; B.V. Naidu, Chairman Karnataka Digital Economy Mission; Shri. Prashant Prakash, Partner – Accel Partners, Chairman – Karnataka Vision Group for Startup; Dr. C. N. Ashwath Narayan, Hon’ble Minister for Electronics, IT & Bt, Science and Technology, Higher Education, Skill Development, Entrepreneurship and Livelihood, Government of Karnataka; Shri Basavaraj Bommai- Chief Minister of Karnataka; Dr. Kiran Majumdar Shaw, Chairperson Vision Group on Biotechnology, Government of Karnataka; Shri Kris Gopalakrishnan, Chairman, Vision Group on Information Technology, Government of Karnataka; Dr. E. V. Ramana Reddy, ACS Dept. of Electronics, IT, Bt and S&T, Government of Karnataka; Mrs. Meena Nagaraj CN, IAS, Managing Director, Department of Electronics IT, Biotechnology and Science & Technology, Government of Karnataka. Credit: Special Arrangement

Karnataka government on Wednesday (November 17), kicked off the 24th edition of the Bengaluru Tech Summit in the capital city.

Earlier today, while addressing the event, Vice President, Venkaiah Naidu said the BTS is a platform for the confluence of great minds and this should be used to uplift all the sections of society.

State-run Karnataka Digital Economy Mission (KDEM) has announced new collaborations with top financial companies to establish Fintech Task-group. It will be led by Harshil Mathur, founder, and CEO, Razorpay.

The main focus of the Fintech Task-group will be to partner with government institutions to offer mentorship on upcoming innovations, offer knowledge repositories, create training avenues on Fintech issues, improve financial and banking literacy of MSMEs and retail consumers, regulatory support in addition to chalking out Fintech roadmap through adequate hands-on insights and evidence-based advocacy.

“This collaboration between the industry and government is a critical milestone for India's fintech ecosystem. As Karnataka cements Its place as a global fintech Hub, our task force will work with the Karnataka Government and industry players across the board to unlock new areas of innovation, and growth. We are confident that the next generation of fintech startups from Karnataka is going to bring technology at the centre of India's journey to a five trillion dollar economy," said Harshil Mathur.

Besides Mathur, Fintech Task-group will comprise Timmanna Gouda of Whatsloan, Miten Sampat from CRED, Nithin Kamath from Zerodha, Raveesh Naresh of Khatabook, Harsh Jain from Groww, and Johnson Tellis Governing council member Sahyadri Institution.

KDEM, which is spearheading the Beyond Bengaluru initiative has received a good response from tech companies. They have started setting up factory units and global service centers.

The state government had selected six clusters-- Mangaluru, Tumukuru, Mysuru, Hubli, Shivamogga, and Kalaburagi. All have witnessed good growth in terms of investments and job opportunities for the locals.

IBM and Glowtouch have set up their Global Delivery Centers in Mysuru, employing 250 and 300 people, respectively.

I-Merit has started operations in Hubbali and employs 300 local people.

Must read | Beyond Bengaluru initiative is getting good response from IT and allied firms

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