The Karnataka government's Department of Electronics, IT (Informational Technology), BT (Biotechnology) and Science & Technology (S&T) will establish a first-of-its-kind Centre of Excellence (CoE) in the financial technology sector in partnership with the Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at the Indian Institute of Management (IIM) Bangalore in the state.

The proposed Centre of Excellence aims to accelerate the growth of the FinTech sector in the state of Karnataka by leveraging its thriving entrepreneurial ecosystem, facilitating innovation and providing extensive support for budding start-ups, stated a report by The New Indian Express.

Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), IIM Bangalore's non-profit business incubator, will lead the Centre of Excellence as the implementing agency.

The centre will be running a 12-month programme for as many as 20 start-ups, offering mentorship, industry insights, infrastructure, office space and networking opportunities to nurture them and also help them grow.

This apart, the Centre of Excellence will provide two online courses for the duration of six months each — FinTech Foundation and Advanced Certificate Programmes — covering aspects like blockchain, digital payments, lending and so on, to upskill professionals and innovators, stated the report by The New Indian Express.