IFSCA (FinTech Incentive) Scheme, 2022

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

1. FinTech Start-up Grant: Up to Rs 15 Lakhs for novel ideas.

2. Proof of Concept (PoC) Grant: Up to Rs 50 Lakhs for conducting PoC.

3. Sandbox Grant: Up to Rs 30 Lakhs for entities in IFSCA Sandbox.

4. Green FinTech Grant: Up to Rs 75 Lakhs for sustainable finance solutions.

5. Accelerator Grant: Up to Rs 10 Lakhs for supporting accelerators.

6. 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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