Indian iris recognition firm Biomatiques Identification has named in a list of startups to benefit from a funding strategy being established by New Delhi.
Biomatiques Identification Solutions was named as one of the top three firms out of 88 that will benefit from a so-called ‘fund of funds’ for startups.
Revealed this week, the fund aims to tap some US$2 billion of government funds and create 1.8 million jobs in start-ups.
Commenting on the development, Tamaal Roy, CEO at Biomatiques Identification Solutions said: “We are motivated and happy to be amongst the top 88 start-ups to be benefited from the Fund of funds. After getting Standardization, Testing & Quality Certification (STQC) from the Department of Electronics & Technology (DeitY), this has been one of our major achievements. This initiative by the Government of India will surely boost entrepreneurship and job creation across the country.”
“Security and accountability are the two major reasons why we are in the business of biometrics. In a country like India which happens to be the second largest in the world in terms of population, maintaining records, ensuring seamless and effortless tracking of citizens and eradicating mal practices around distribution of government benefits and subsidies can be quite challenging. Our technology will definitely play a pivotal role in changing the security infrastructure of India.” He further added.