Infibeam Avenues expands into the field of fintech startup management
- ByStartupStory | February 17, 2022
Infibeam Avenues Ltd, a fintech solutions provider, made its entry into the ‘Fintech Startup Management’ arena on February 16, making it the first firm in Gujarat to begin and implement projects and facilities management services for the startup ecosystem.
Infibeam Project Management Private Ltd (IPML), a wholly-owned subsidiary of the corporation, has been established in GIFT City to provide software and fintech entrepreneurs with pre-built infrastructure, tools, and resources to help them expand their businesses.
The ‘Fintech Startup Management’ field is a new and developing business model in which businesses are given capital-intensive and complicated tech and software infrastructure, software tools (licensed and free versions), and other resources in an almost plug-and-play format. As a result, entrepreneurs may concentrate their efforts on their primary business, according to the company.
Technologies have progressed, and new tech-friendly legislation will attract a huge number of software and fintech startups and businesses to the state. “Our new company, Infibeam Project Management Private Ltd, will capitalise on new prospects by providing pre-built infrastructure and environment to software and fintech firms,” said Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd.
To encourage new IT/ITeS firms to Gujarat, the Gujarat government has released a new strategy for information technology (IT) and information technology-enabled services (ITeS).
CAPEX assistance would be granted for qualified IT/ITeS projects worth up to Rs 50 crore to Rs 200 crore, while OPEX support would be offered for projects worth up to Rs 20 crore to Rs 40 crore.
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