Credit: State Government of Andhra Pradesh (from the official Twitter account of the Government of Andhra Pradesh, https://twitter.com/AndhraPradeshCM) This is part of the State Government’s plans for FinTech
Valley Vizag, which was launched in 2016 to bring together global financial
services companies, investors, startups, government and academia. The Government of the Indian state of Andhra Pradesh (AP) has
signed
a MoU with Covalent Fund to start a Blockchain ecosystem in India.

The collaboration
will focus
on creation of manpower, access to capital and creation of an India-focused Blockchain stack at Fintech
Valley Vizag. An investment of up to $10 million will be done as an initial
pilot program.

There are also plans to set up a Blockchain University soon
through collaboration between Covalent Fund and the State Government. The FinTech hub in Visakhapatnam or Vizag, called FinTech
Valley Vizag was launched in 2016 to bring together global financial services
companies, investors, startups, government and academia.

It is a purpose-built and government supported facility that
provides state-of-the-art plug and play facility at subsidised rates under the Designated Technology
Park scheme. The facility can be used as co-working space for resident
Fintech start-ups, accelerators, incubators and innovation hubs, growth space
in the future for them as they grow, and a collaboration and events/conference
space for all stakeholders.

A range of incentives are
provided for companies to set up shop at the FinTech hub. In October 2016, FinTech Valley Vizag organised a Blockchain
Business Conference, with support from the Ministry of Electronics and
Information Technology, Government of India. Read more from opengovasia.com…

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