GIFT City, India’s sole International Financial Services Centre (IFSC), has recently formed a partnership with TiE, Inc. (The Indus Entrepreneurs) to advance entrepreneurship, generate employment opportunities, and cultivate a thriving business environment in the country.
The memorandum of understanding (MoU) was formalized on Tuesday between Gujarat International Finance Tec-City Company Limited (GIFTCL) and TiE – a global non-profit organization dedicated to nurturing entrepreneurship and innovation.
This collaboration aims to establish a framework that will promote innovation, attract investments, and provide a conducive environment for businesses within GIFT City. By leveraging the collective strengths of both entities and their extensive networks, the partnership seeks to drive sustainable economic growth and foster significant employment prospects.
Key areas of cooperation outlined in the MoU include facilitating GIFT City as the preferred destination for TiE members and their portfolio companies, offering regulatory guidance and advisory support, assisting in obtaining necessary approvals, licenses, and allocation of space, as well as providing access to GIFT City’s world-class infrastructure facilities.
Additionally, TiE and its chapters will facilitate connections between GIFT City and its global network of entrepreneurs and industry leaders, offering valuable insights and recommendations to enhance the startup ecosystem. The collaboration will also see the joint organization of knowledge-sharing sessions, networking events, and boot camps. Both parties have committed to engaging in joint promotion and branding activities, collaborative research publications, and outreach programmes targeting entrepreneurs and investors interested in the Indian market.
As part of the MoU, a joint working committee comprised of representatives from GIFTCL and TiE will oversee the collaborative activities. This committee will convene regularly to review progress, tackle challenges, and explore new opportunities. Additionally, an annual entrepreneurship summit will be hosted at GIFT City, involving the broader TiE network.
Mr. Tapan Ray, MD & Group CEO of GIFT City, expressed his excitement about the partnership, highlighting the potential to attract top-tier entrepreneurs and businesses to GIFT City, further solidifying its position as a leading financial and technology services hub. Mr. Ray emphasized the aim to create a dynamic ecosystem that supports growth and innovation.
Equally enthusiastic about the collaboration, Mr. Amit Gupta, Chairman of the Board of Trustees at TiE Global and Group CEO of Ecosystm Group, emphasized the importance of entrepreneurship in driving innovation and solving some of the world’s most pressing challenges. Mr. Gupta expressed his excitement about the MoU, highlighting its potential to create jobs, drive economic growth, and foster innovation to uplift societies and economies.
In conclusion, the partnership between GIFT City and TiE holds great promise for fostering entrepreneurship, driving economic growth, and shaping innovation to create a positive impact on societies and economies. This collaboration signifies a pivotal step towards creating a conducive environment for business and entrepreneurship in India.