On July 12, the International Financial Services Centers Authority (IFSCA) and IIM Lucknow entered into a Memorandum of Understanding (MOU).
The collaboration between IFSCA and IIM Lucknow aims to accelerate the growth and success of new ventures by facilitating the commercialization of technology and products. This will be achieved through a comprehensive program that includes accelerator programs, seed capital, corporate venture capital funds, smart co-working spaces, corporate market access, mentoring, and training programs.
IFSCA holds the responsibility for the development and regulation of international financial services, including the insurance sector, within the International Financial Services Centre (IFSC). The IFSC is regarded as a distinct international financial jurisdiction separate from the rest of India. The objective of IFSCA is to establish a strong global connection and address the requirements of the Indian economy while serving as an international financial platform at the regional and global levels.
The joint venture between IIM Lucknow and EIC IIML is supported by the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science and Technology (DST), Government of India, and the Government of Uttar Pradesh. It is promoted by the Indian Institute of Management Lucknow and aims to foster entrepreneurship and innovation.
