Infibeam Avenues proposes licensing base marketplace tech to GeM
Infibeam Avenues Ltd, India’s pioneering fintech company, has extended an intriguing proposition to the Government e-Marketplace (GeM), the Government of India’s online public procurement platform. The proposal involves licensing and support for its revolutionary Base Marketplace intellectual property.
This strategic move comes in the wake of GeM appointing a new technology partner, Tata Consultancy Services (TCS), set to take over the reins of the existing GeM portal from October. As the terms of the contract with the current Main Service Provider (MSP) approach their conclusion, GeM has put forth a new Request for Proposal (RFP), requiring the new partner to implement a state-of-the-art technological solution within 18 months. The RFP also outlines the process for transitioning from the existing GeM implementation.
Infibeam Avenues Ltd, aligning with GeM’s forward-looking approach, has submitted a proposal to make its coveted Base Marketplace intellectual property assets accessible to GeM post-contract expiration. This inclusive proposition encompasses its sophisticated workflow management system and the innovative Base Marketplace technology framework, all under a licensing arrangement.
Vijay Subramanian, CEO of Platform Business at Infibeam Avenues Ltd, elaborated on the proposal, stating, “If the proposal is accepted, the company will license its Base Marketplace intellectual property to GeM, and provide support.”
Crucially, Infibeam Avenues Ltd has embarked on a diligent and proactive journey to ensure a seamless transition to GeM’s newly appointed technology partner, TCS. This transition adheres rigorously to the guidelines and directives established by GeM authorities. The company has focused on expeditiously transferring comprehensive knowledge of the GeM marketplace’s technology to the new technology partner and vendor.
Back in 2017, a consortium led by Intellect Design Arena, in collaboration with Infibeam Avenues Ltd, secured the prestigious contract to conceive, construct, sustain, and maintain the GeM portal. Launched in August 2016 under the auspices of the Indian Commerce Ministry, the GeM portal has played a pivotal role in facilitating online procurement of goods and services for various central and state government ministries and departments. This innovative proposal could usher in a new era of efficiency and innovation in the realm of government procurement.