Chandrababu Naidu aims at developing Vizag as one of top three fintech hubs

Speaking at the inauguration of the Vizag Fintech Festival in the city on Tuesday, Andhra Pradesh Chief Minister Chandrababu Naidu said that Vizag will be developed will be developed as an innovation valley and one of the top three fintech hubs in the world.

Mentioning that the state government was putting forth its best to establish a conducive ecosystem for the development of fintech in Vizag, Mr Naidu stated that many established companies and start-ups are showing interest in setting shop in the city.

The Chief Minister further stated that the state government is using technology to provide smart and easy governance to the public. Informing that the objective was to make the government transactions online and integrate data for the best results, he invited several IT giants to help his government in this endeavour.

Addressing the media, Chandrababu Naidu said that about 75 companies, with an estimated investment of Rs 500 crores, are expected to be set up in the state.

About Fintech Valley Vizag

The Fintech Valley in Vizag is a self-sustainable global Fintech Ecosystem that focuses on converging finance and technology to create large avenues of growth through industry-enablers, world-class infrastructure, entrepreneurship and innovation.

Global financial services companies, government and academia come together in this valley to build capacity, infrastructure, market access, connectivity, funding channels, and incentive mechanisms to achieve unmatched business goals and successes. Start-ups, financial Institutions, technology vendors, incubators/accelerators/innovation labs, and investors simultaneously contribute to and thrive in this ecosystem at the speed of business.

The Vizag Fintech Festival 2018 is poised to be the nation’s largest Financial Technology event. The week-long event will take place from October 22nd-26th, in the city of Vizag, also known as India’s Fintech Valley. Hosting over 2000 attendees including decision makers and investors from the Global Fintech fraternity, the event is considered by the Indian Fintech community as the largest platform to explore opportunities, innovation and partnerships.