TDB and Quicksand Forge Alliance to Revolutionize FMCG Industry with Digital Finance Solutions

New Delhi: In a significant stride towards fostering innovation in the Fast-Moving Consumer Goods (FMCG) sector, the Technology Development Board (TDB) has inked a strategic agreement with M/s Quicksand Design Studio Private Limited, headquartered in New Delhi. Under the banner of the ‘INDIA-ISRAEL INDUSTRIAL R&D AND TECHNOLOGICAL INNOVATION FUND (I4F)’, TDB has granted a Conditional Grant of ₹1.22 crores to fuel the project titled “Digital Financial Solutions for Last Mile FMCG Value Chains in Emerging Markets”.

This collaboration exemplifies the enduring partnership between the Department of Science and Technology (DST), Government of India, and the Israel Innovation Authority (IIA), Government of Israel, aimed at fostering joint industrial R&D projects between Indian and Israeli companies. Spearheaded by Israeli Project Lead M/s Vascode Technologies Ltd., the project aims to revolutionize last-mile FMCG value chains in emerging markets through an innovative digital finance solutions platform.

At the heart of the project lies the development of an integrated digital finance platform meticulously crafted for last-mile FMCG value chains. Leveraging Quicksand’s renowned expertise in human-centered design, the platform is poised to redefine the landscape of financial services in emerging markets by prioritizing user experience and aligning products with diverse consumer needs. With an illustrious clientele boasting industry giants like Google, Facebook, and Coca-Cola, Quicksand brings unparalleled insight and innovation to the table.

Once realized, the platform will seamlessly embed financial services across FMCG value chains, with a particular focus on last-mile distribution networks. Drawing from Quicksand’s extensive track record in managing branchless banking networks and B2B commerce platforms, the project is primed to empower businesses and consumers alike, driving financial inclusion and fostering sustainable economic growth in emerging markets.

Expressing his views on the collaboration, Shri Rajesh Kumar Pathak, Secretary, Technology Development Board, remarked, “This partnership underscores our unwavering commitment to fostering innovation-driven solutions that tackle real-world challenges. As the first agreement inked under the Bilateral India-Israel call, it paves the way for a series of groundbreaking projects lined up for TDB. We are poised to embark on a transformative journey, forging alliances that will shape the future of innovation in India.”

The collaboration between TDB and Quicksand marks a significant step towards harnessing cutting-edge technology to propel the FMCG industry towards greater efficiency, inclusivity, and sustainability.