To advance innovation in the Fast-Moving Consumer Goods (FMCG) sector, the Technology Development Board (TDB) has forged an agreement with Quicksand Design Studio Private Limited, New Delhi. TDB has allocated a Conditional Grant of ₹1.22 crores to back the project titled “Digital Financial Solutions for Last Mile FMCG Value Chains in Emerging Markets” within the ‘INDIA-ISRAEL INDUSTRIAL R&D AND TECHNOLOGICAL INNOVATION FUND (I4F)’.
This collaboration under I4F underscores the enduring partnership between the DST, Government of India, and the IIA, Government of Israel, aiming to promote and facilitate joint industrial R&D projects between Indian and Israeli companies. Spearheaded by Israeli Project Lead – Vascode Technologies Ltd., the project seeks to transform last-mile FMCG value chains in emerging markets through an innovative digital finance solutions platform.
Focused on crafting an integrated digital finance platform tailored for last-mile FMCG value chains, the project capitalizes on Quicksand’s esteemed expertise in human-centered design. By prioritizing user experience and aligning products with diverse consumer needs, the platform aims to redefine financial services in emerging markets. With a distinguished clientele, including industry giants like Google, Facebook, and Coca-Cola, Quicksand brings unparalleled insight and innovation to the project.
Upon completion, the platform will seamlessly integrate financial services across FMCG value chains, with a particular focus on last-mile distribution networks. Leveraging Quicksand’s extensive experience in managing branchless banking networks and B2B commerce platforms, the project is poised to empower both businesses and consumers, fostering financial inclusion and sustainable economic growth in emerging markets.
In his remarks, Shri Rajesh Kumar Pathak, Secretary of the Technology Development Board, emphasized the partnership’s commitment to fostering innovation-driven solutions addressing real-world challenges. As the inaugural agreement under the Bilateral India-Israel call, it paves the way for numerous groundbreaking projects in TDB’s pipeline, signaling a journey toward transformative agreements in the near future.
