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Fintech startups from different countries are flocking to Visakhapatnam in large numbers and there is no doubt that in a few years the city will become a hot destination, according to State IT Minister, N. Lokesh.
He was speaking at the valedictory ceremony of the Vizag Fintech Festival late on Thursday after giving away prizes to winners in the global $1 million challenge.
The event concluded on Friday, with the delegates being taken to various tourist destinations in and around the city.
A total of 37 startups from 10 countries participated in the $ 1 million challenge. They exhibited their ideas before the participants comprising venture capitalists and angel investors.
According to J.A Chowdary, IT adviser to the State Government, most of the startups would start operations in the State. The State Government signed MoUs with several companies abroad, especially in Hong Kong, Singapore and Israel to open up avenues of opportunities to local startups, he added.
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