The IFSCA FinTech Incentive Scheme aims to promote GIFT IFSC as a world-class FinTech hub by providing financial support through various grants.
Types of Incentives
FinTech Start-up Grant: Up to Rs 15 Lakhs for novel ideas.
Proof of Concept (PoC) Grant: Up to Rs 50 Lakhs for conducting PoC.
Sandbox Grant: Up to Rs 30 Lakhs for entities in IFSCA Sandbox.
Green FinTech Grant: Up to Rs 75 Lakhs for sustainable finance solutions.
Accelerator Grant: Up to Rs 10 Lakhs for supporting accelerators.
Listing Support Grant: Up to Rs 15 Lakhs for domestic entities aiming for global listing.
Eligibility for Grants
Part of IFSCA’s Regulatory or Innovation Sandbox.
Referred by a counterpart regulator under a FinTech bridge arrangement.
Participated in IFSCA-recognized programs or accelerators.
Referred by entities with MoUs or collaborations with IFSCA.
Application Fees for Grants
Processing Fee: $100 per application.
List of Documents for Application
Incorporation and business commencement documents.
Constitutional documents (MOA, AOA, Deed).
Board resolution authorizing the application.
KYC documents of founders, directors, and authorized signatories.
Application fee proof.
Latest shareholding pattern.
Technical documents, including architecture, technology stack, and security assessments.
Additional documents such as pitch decks, audited financials, and fit and proper declarations.
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