Gujarat International Finance Tec-City (GIFT City) on Thursday, announced the launch of the GIFT International Fintech Institute (GIFT IFI) and the GIFT International Fintech Innovation Hub (GIFT IFIH)—a dedicated fintech incubator and accelerator, supported by the Asian Development Bank (ADB).

The GIFT IFI will be led by a distinguished consortium comprising Ahmedabad University, in collaboration with IIT Gandhinagar and the University of California, San Diego, stated an official release. The training programs, set to commence in January 2025, are designed to equip professionals with industry-aligned skills essential for the modern financial sector. The institute will empower the next generation with the capabilities needed to excel in high-growth careers in global finance. 

Complementing this, the GIFT IFIH—led by Plug and Play, a global accelerator platform—aims to provide essential resources, expert mentorship, and expansive networking opportunities to start-ups, offering them a dynamic space to scale and succeed in a competitive fintech landscape. The GIFT IFI and GIFT IFIH are specifically designed to meet several critical goals that will shape the fintech sector in India. First, they will offer training programmes aligned with international industry standards, building an environment conducive to start-up incubation and acceleration. A particular focus will be placed on supporting women entrepreneurs, promoting an inclusive ecosystem that encourages diverse talent and perspectives.

Additionally, the initiatives will drive applied research to create fintech solutions, bridging the gap between academic research and industry needs. These initiatives will encourage industry partnerships that strengthen innovation capacity and sector competitiveness, cementing GIFT City’s reputation as a centre for global fintech excellence.

The Vision

Professor Pankaj Chandra, Vice Chancellor of Ahmedabad University said, “Growth of the Indian economy will be secularly linked to financial intermediation, creation of new kinds of jobs, and innovation in technology and business models in fintech. We, Ahmedabad University, IIT Gandhinagar, and UC San Diego are committed to grow the larger fintech ecosystem by bringing our extensive institutional strengths towards developing cutting edge fintech training and academic programme at the International Fintech Institute. We will build a new talent at scale and with global capabilities by collaboratively developing programmes with industry and leading global academics. Together, we will address the evolving needs of the financial sector with innovative solutions and through deep applied research, provide new ideas to the industry and the regulators. The Institute will also work closely with industry to reorient early and mid-career managers towards technology driven financial solutions and service.”

Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for IFIH added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program - a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyse transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”