“The real heroes are the entrepreneurs, as they not only create value for themselves but also generate employment and contribute to the nation’s growth,” said Mr K Rajaraman, Chairman, IFSCA, during his visit to IIT Gandhinagar.
Indian Institute of Technology Gandhinagar (IITGN) hosted a high-level delegation from the International Financial Services Centres Authority (IFSCA) on August 26, 2025, to explore collaborations in fintech training, research, and innovation. The interaction brought together policymakers, researchers, faculty, and startups to discuss opportunities for building capacity and advancing financial technologies in India.
The programme began with a tour of the IITGN Research Park, where the delegation engaged with faculty members, research groups, and startups working on emerging technologies and financial innovations. Innovations such as Galanto Innovations, Trado, and SPEC Finance were showcased, alongside startups like Proyl Therapeutic and a nutritious food venture. Mr Rajaraman also interacted with the startups, discussing venture capital, funding, patents, and the importance of building stronger networks. He opined that “Customers should be brought here, as they are the true builders of the ecosystem, their needs and feedback shape innovation and drive meaningful growth.”
Delivering the welcome address, Prof Rajat Moona, Director, IITGN, highlighted the Institute’s vision to contribute meaningfully to the evolving financial ecosystem through cutting-edge research and entrepreneurial initiatives.
Prof Moona emphasized the uniqueness of IITGN’s Research Park, noting that out of several IITs, only a handful have such facilities, and IITGN’s is counted among the most successful. He spoke about the vibrant startup ecosystem nurtured at the Institute and the diverse areas of research being pursued. He also highlighted IITGN’s regular engagement with MSMEs, mentioning that every few months the Institute actively hosts interactions, workshops, and collaborative programs to support innovation and address real-world challenges. Motivated by Prime Minister Modi’s drive to encourage the private sector to scale up research, development, and innovation in sunrise domains, SPEC is embarking on a mission to finance transformative projects at higher Technology Readiness Levels (TRL).
Mr Rajaraman elaborated on the growing role of GIFT City as a global financial hub and the importance of academia–industry partnerships to create talent pipelines and innovative solutions in fintech. He further highlighted that innovation drives diversity, and diversity helps build strong networks. At IITGN, several faculty members are venturing into entrepreneurship, which he described as truly inspiring.
He further highlighted that the startups emerging from the institute are cross-disciplinary, enabling a multiplier effect that fosters innovation and generates significant social impact. He also suggested ways to support SMEs, gave an overview of the lack of access to finance, and discussed the challenges faced by financial companies along with potential solutions.
The event featured thematic talks, including Prof K Chelvakumar, Executive Vice President at the GIFT International FinTech Institute (GIFT IFI) and Professor at IITGN, who spoke on “FinTech Training and Research: Defining Needs, Shaping the Path Forward,” emphasizing the role of interdisciplinary education in preparing future-ready professionals. Mr Anand Pandey, Manager (Commercialization), IITGN, shared insights on “Promoting techno-entrepreneurship and innovation,” showcasing IITGN’s startup ecosystem and its support for student-led ventures.
A faculty showcase session highlighted ongoing work by Prof Mithun Radhakrishna, Prof Udit Bhatia, Prof Mayank Singh, and Prof. Kaustubh Rane (Career Development Services). Presentations by Research Park startups SPEC Finance and Trado demonstrated solutions in financial technology and digital innovation. Founded by IIT graduates in 2023, Trado revolutionizes options trading with lightning-fast execution and advanced automation features. SPEC Finance, a licensed investment bank and finance company registered in GIFT City, is among the newest additions to IITGN’s Research Park.
The IFSCA delegation delivered a comprehensive presentation on the regulatory and developmental overview of GIFT IFSC, highlighting initiatives to strengthen India’s position as a global financial hub and outlining avenues for collaboration with academic institutions like IITGN.
The event concluded with an open discussion, allowing faculty, startups, and IFSCA officials to exchange ideas on training, regulatory frameworks, and future areas of collaboration. Speaking on the occasion, Prof Moona noted, “Engagements such as these strengthen the bridge between academia, industry, and policymakers, and open up opportunities for impactful collaboration in the rapidly growing fintech sector.”