Gandhinagar (Gujarat) [India], June 10 (ANI): Gujarat International Finance Tec-City launched the second cohort of its Fintech Residential Programme to support early-stage startups developing next-generation financial technology solutions. According to a GIFT City press release, the application window for eligible startups opened today and will close on July 05.

The six-month initiative operates through the GIFT International Fintech Innovation Hub. It focuses on startups at the 'idea, pre-product, minimum viable product, and early-validation stages.' The selected participants will undergo three months of in-person residency at GIFT City, followed by three months of virtual support dedicated to product development, market validation, and ecosystem engagement.

The programme targets specific domains within financial services. It covers 'cross-border finance, security, risk and compliance, Web3 and blockchain infrastructure, alongside GovTech and RegTech.'

The initiative offers structured support to help founders scale their concepts. The participating startups will receive direct mentorship from industry experts, access to key ecosystem stakeholders, regulatory exposure, and opportunities to engage with investors and strategic partners.

This second cohort follows the initial phase of the project. The inaugural Residential Programme supported 11 startups by providing mentorship, product development assistance, and investor connectivity.

GIFT City established the Innovation Hub in January 2025 to serve as a core platform for incubation and acceleration. The facility provides startups with direct access to the financial services ecosystem operating within India's International Financial Services Centre.

Over the next four years, the Hub aims to support 250 fintech startups to help develop a globally competitive innovation ecosystem anchored in the city. Since its operations began, the Hub worked with businesses in areas like cross-border payments, regulatory technology, digital assets, compliance, and infrastructure.

Multiple portfolio startups previously utilized the regulatory frameworks within the IFSC ecosystem, including the IFSCA FinTech Innovation Sandbox and the acquisition of Payment Service Provider licences.

Commenting on the launch, Sanjay Kaul, Managing Director and Group CEO, GIFT City, said, 'The convergence of finance, technology and regulation is creating new opportunities for innovation across the financial services sector. Through the Fintech Residential Programme, we aim to support founders developing solutions for domestic and global markets while leveraging the unique ecosystem available at GIFT City,' Kaul said.

The release noted that as the centre expands its role as an international financial hub, these residential initiatives are expected to strengthen the broader startup ecosystem, promote entrepreneurship, and support the growth of financial services.

'By bringing together startups, regulators, financial institutions, investors and industry experts, we are creating an environment that enables innovation, collaboration and responsible growth,' Kaul added. (ANI)