Infibeam Avenues Ltd, which is India’s first listed fintech company, has proposed to license and provide support for its Base Marketplace intellectual property to the Government e-Marketplace (GeM). GeM is an online public procurement platform of the Government of India.
With the existing contract with the Main Service Provider (MSP) coming to an end soon, GeM has appointed Tata Consultancy Services (TCS) as its new technology partner. As per the new Request for Proposal (RFP), the new partner is expected to deploy a new technological solution within 18 months and also take over the existing GeM implementation as per the exit plan mentioned in the 2017 RFP. Infibeam Avenues Ltd has submitted a proposal to make its Base Marketplace intellectual property assets available to GeM after the end of the existing contract. This includes its workflow management system and Base Marketplace technology framework, under a licensing arrangement.
“If the proposal is accepted, the company will license its Base Marketplace intellectual property to GeM, and provide support,” said Mr Vijay Subramanian, CEO, Platform Business, Infibeam Avenues Ltd.
Infibeam Avenues Ltd has diligently and proactively initiated and engaged in the seamless transition to GeM’s newly appointed technology partner, TCS, in strict accordance with the guidelines and directives set forth by the authorities at GeM. The company has ensured the expeditious, dependable, and comprehensive transfer of knowledge of the GeM marketplace’s technology to the new technology partner and vendor.
In the year 2017, a consortium led by Intellect Design Arena, in collaboration with Infibeam Avenues Ltd, was bestowed with the prestigious contract to conceive, construct, sustain and maintain the GeM portal. Launched in August 2016 under the aegis of the Indian Commerce Ministry, the GeM portal has served as a pivotal platform for the online procurement of goods and services by various central and state government ministries and departments.