Call for corporate, startup partnership
D E Shaw opens new space in Hyd; to add 200 jobs in 2022
(2nd from left) Jayesh Ranjan, Principal Secretary of the Industries and Commerce, Telangana after opening new DE Shaw’s new centre in Hyderabad on Tuesday
While Hyderabad has a vibrant BFSI sector, Telangana govt looks forward for corporates like DE Shaw to support fintech (financial technology) startups
Hyderabad: Hyderabad has been at the forefront in its support to startups in India. To further strengthen and propel startups in the banking, financial service and insurance (BFSI) sector, collaboration between corporates and startups is the need of the hour, said Jayesh Ranjan, Principal Secretary of Industries and Commerce, Telangana government.
Speaking on the sidelines of the opening of DE Shaw's new centre here, he said, "One third of the total workforce is contributed by BFSI sector in Hyderabad. In India, one-third of the total jobs are created from Hyderabad itself. While Hyderabad has a vibrant BFSI sector, we look forward for corporates like DE Shaw to support fintech (financial technology) startups." Ranjan asked D E Shaw to partner with startups while the terms for collaboration could be discussed further.
The Telangana government plans in developing a finance related skill based programme for which it looks to tie-up with corporates from the finance sector. "Companies related to BFSI are currently hiring engineers. These engineers are trained in finance while the candidate is on roll. Hence, it would be best for corporate companies partner with Telangana government's education department in developing a programme to upskill engineers," Ranjan added.
The principal secretary also asked D E Shaw India to reach out to its US-based clients for setting up their global capability centres (GCC) here in Hyderabad.
D E Shaw India Private Limited, a global and investment technology development firm on Tuesday opened its second office, an extension of the current space, in Hyderabad. The three floor space is around 78,000 sft with a capacity to seat 400 employees. The US-based company plans to add 52,000 sft for which D E Shaw will be adding 200 new jobs. Moreover, in 2023, DE Shaw will be expanding its geographic footprint by opening new facilities in Bengaluru and NCR.
