Technology Innovation Hub

Financial technology, often shortened to fintech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing services, and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. Financial technology companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. Within the financial services industry, some of the used technologies include artificial intelligence (AI), big data, robotic process automation (RPA), and blockchain. The financial technologies and tools are nowadays undergoing a quantum leap at both micro and macro levels, keeping pace with the enormous advancements happening in the domains of Information technology and data sciences, further turbocharged by the easy access to various Internet and mobile platforms, as never seen before in the history of mankind. These changes will, to a great extent, impact all forms trading and financial activities, and are demonstrating great promise to benefit both the government and industrial stakeholders, as well as the retail sector merchants and consumers, in their day-to-day business dealings.

    TIH-Targets List

S.No. Target Area Set Targets Achieved Targets
1st Yr 2nd Yr 3rd Yr 4th Yr 5th Yr Total 1st Yr 2nd Yr 3rd Yr 4th Yr 5th Yr Total
1

Technology Development

1.1 No of Technologies (IP, Licensing, Patents etc) 1 4 5 5 5 20 0 0 0 0 0 0
1.2 Technology Products 1 1 1 3 4 10 0 0 0 0 0 0
1.3 Publications, IPR and other Intellectual activities 4 8 8 10 10 40 0 0 0 0 0 0
1.4 Increase in CPS Research Base 4 8 8 15 15 50 0 0 0 0 0 0
2

Entrepreneurship Development

2.1 Technology Business Incubator (TBI) 1 0 0 0 0 1 0 0 0 0 0 0
2.2 Start-ups & Spin-off companies 4 5 5 6 10 25 0 0 0 0 0 0
2.3 GCC - Grand Challenges & Competitions 1 1 1 0 0 3 0 0 0 0 0 0
2.4 Promotion and Acceleration of Young and Aspiring technology entrepreneurs (PRAYAS) 1 1 1 1 1 5 0 0 0 0 0 0
2.5 CPS-Entrepreneur In Residence (EIR) 2 2 3 3 5 15 0 0 0 0 0 0
2.6 Dedicated Innovation Accelerator (DIAL) 1 1 0 0 0 2 0 0 0 0 0 0
2.7 CPS-Seed Support System (CPS- SSS) 1 0 0 0 0 1 0 0 0 0 0 0
2.8 Job Creation 200 800 2000 2000 2000 7000 0 0 0 0 0 0
3

Human Resource Development

3.1 Graduate Fellowships 50 50 50 50 0 200 0 0 0 0 0 0
3.2 Post Graduate Fellowships 10 10 10 10 0 40 0 0 0 0 0 0
3.3 Doctoral Fellowships 10 10 15 0 0 35 0 0 0 0 0 0
3.4 Faculty Fellowships 1 0 0 0 0 1 0 0 0 0 0 0
3.5 Chair Professors 1 0 0 0 0 1 0 0 0 0 0 0
3.6 Skill Development 0 75 75 75 75 300 0 0 0 0 0 0
3.7 Postdoctoral Fellowships 0 5 10 5 3 23 0 0 0 0 0 0
4

International Collaboration

4.1 International Collaboration 1 1 1 2 0 5 2 0 0 0 0 2
Total 294 982 2193 2185 2128 7777 2 0 0 0 0 2
Total Set Targets 7777 Total Achieved Targets 2