New Delhi, Jan 7 (PTI) GIFT City, the country's only international financial services centre (IFSC), on Thursday said it has joined hands with iCreate to promote the startup ecosystem, especially in the field of fintech.

In this regard, a memorandum of understanding (MoU) was signed between startup incubator International Centre for Technology and Entrepreneurship (iCreate) and GIFT SEZ.

The pact aims to create an enabling platform for collaboration in the area of fintech, Gujarat International Finance Tec City (GIFT City) said in a statement.

It also aims to set up a fintech hub at GIFT City in Gandhinagar.

"Fintech is one of the largest verticals within the startup ecosystem. Proximity to regulators, banks, insurance companies and other financial institutions are key to a successful fintech eco-system. GIFT City provides just the right environment for this,"Anupam Jalote, CEO, iCreate said.

"With the expertise of iCreate in nurturing start-ups and converting tech into successful businesses, we strongly believe that this collaboration will benefit the entire ecosystem and enable GIFT IFSC to compete strongly with other international financial centres," he added.

Tapan Ray, MD and Group CEO of GIFT City, said the objective of GIFT City is to create a financial services ecosystem.

The development of a strong fintech ecosystem is a key enabler in success of a global financial centre, he added. 

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