Jignesh Shah’s Endeavours for a Brighter Tomorrow

Time and again, we have witnessed Jignesh Shah, the Founder, Chairman Emeritus and Chief Mentor of 63 Moons Technologies Limited, developing and implementing new and innovative strategies that exponentially developed the FinTech industry. He has consecutively launched many exchanges that have received global acclamation and opened up several international trading routes for India. Besides that, his flagship product Financial Technologies India Limited (FTIL), currently known as 63 Moons Technologies Limited, decimated the monopoly of the stock market and gave India a new recognition in the global FinTech Industry.

Jignesh Shah

In 2013, one of Shah’s exchanges, National Spot Exchange Limited (NSEL), faced a huge payment crisis that led to its shutdown. The first generation entrepreneur was accused of being allegedly involved in the case and faced many charges. The Maharashtra government had attached operational accounts of 63 Moons Technologies Limited regarding the NSEL case. In March, the Central Bureau of Investigation raided his office and residence in connection with alleged irregularities at the Multi Commodity Exchange (MCX). Although no concrete evidence was recovered against him, the case heavily affected Shah’s reputation and resulted in the tremendous loss.

But the zealous entrepreneur he is, that did not stop him from being the rising czar. Shah once told, “When the truth is on your side, you have to withstand all pressure. I have full faith in the judiciary, and I am convinced of getting justice.” Now, the business tycoon is walking the tracks of mentoring start-ups. He is building new technology platforms that will offer incubation and many other facilities to start-ups. Currently, Jignesh Shah is associated with two groups and mentoring them. Being part of the FTIL group, both the initiatives JS Innovation Lab and Startup Network are receiving funding and other facilities from it.

Shah’s involvement in the maneuvers of both the units is already showing significant improvements. JS Innovation Lab is an incubation service provider to start-ups. Their website says, “Incumbents are given every resource to ensure they can straightaway kickstart the execution of their ideas to turn them into commercially viable businesses. The incubation process is almost ‘plug and play’!” According to the recent updates, they are attempting to enable ‘digital IP (Intellectual Property) routes’ by launching 36 innovation labs in association with leading educational institutes, connecting global innovation hubs from Silicon Valley to Bengaluru and Tel Aviv to Tianjin. Also, multiple conferences are being organised to find potential entrepreneurs. However, will this attempt give Shah the window of opportunity needed to re-launch him, is still a mystery.

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