Karnataka Digital Economy Mission (“KDEM”)has formed a fintech task group which aims for 50 startup unicorns and 100 soonicorns by 2030. The Karnataka Government is planning to create a fintech fund to enhance the growth of startup ecosystem in state and turn it into a global fintech hub.
The fintech task group is expected to create the fund with the help of government venture capital investors, angel investors and business incubators to provide financial assistance to the new startups in the state.
The fintec task group aims for having a dedicated fintech policy for the state to bloster its fintech ecosystem. KDEM, is also on talks with government to set up Karnataka Centre of Fintech Excellence .