Mr Blair said the fintechs’ visit to India was the first step in an innovative two-year, $1.58 million partnership set up between NSW and India to enhance business outcomes for the State’s startup, technology and advanced manufacturing sectors.

“This fantastic partnership was announced during the Premier’s trade mission to India in April 2018 and I’m delighted we’ve made such quick progress to get this first step underway.

“This is an outstanding opportunity for NSW entrepreneurs who are developing their ideas, who want to learn from India’s best and brightest, and who want to explore one of the world’s most dynamic technology and startup markets,” he said.

Based out of Zone Startups in Mumbai, the one-week program will provide the NSW fintechs with an excellent introduction to the Indian market, deliver meetings and networking sessions with local startups and potential business partners, and guide the participant on taking their businesses global.

Zone Startups is located in the Bombay Stock Exchange and is the only independent startup accelerator and entrepreneurship platform to be supported by India’s Department of Science and Technology.

The NSW companies will receive return economy flights to Mumbai with up to seven nights’ accommodation plus a five-day, personally curated startup program including meetings with Mumbai-based multinationals and startups, and opportunities to meet and pitch to the local fintech and venture capital community.

Mr Blair said the new partnership would be a great opportunity to further develop NSW and India’s increasing economic, business and cultural ties.

“Trade of goods and services between NSW and India is worth about $1.8 billion annually including coal, metals and textile fibres as well as education.

“This new partnership gives us another growth platform by developing innovative, knowledge-based industries and strong international connections for our startup communities,” he said