The Indian government has launched the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), focusing on emerging technologies like Blockchain, IoT, AI/ML, Big Data, Quantum Communication, etc., to translate research concepts, co-develop PoC prototypes to reach higher TRLs, IP monetization, foster national and international collaborations, and patent facilitation, leading to new venture creation.

The mission is being implemented through 25 Technology Innovation Hubs (TIHs) set up with prominent technical institutes nationwide, each mandated to operate on a specified technology domain. Along these lines, IIT Bhilai Innovation and Technology Foundation (IBITF) is mandated to function in the Fintech domain.