Govt to create equity fund for start-ups with 20% limited partnership
By MYBRANDBOOK
The Minister of State for Electronics and IT Rajeev Chandrasekhar said that the government will create a new equity fund for start-ups with a 20 percent limited stake to provide additional capital support to the entrepreneurs.
The fund will be managed by private fund managers, Chandrasekhar said, adding that "this will create required private equity capital as an addition to what exists today". The government has already put in place some of the funds like the Startup India Seed Fund Scheme (SISFS) with an outlay of Rs 945 crore to help start-ups in meeting their capital requirement. In the Union Budget 2022, Rs 283.5 Cr has been reserved for the SISFS.
Startups that are registered and recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), the implementation agency for SISFS, will be eligible for funding. Some states, including Karnataka, Uttar Pradesh, Bihar, Gujarat and Rajasthan, have put in place funds to support start-ups.
In an event conducted by the Confederation of Indian Industry (CII) Chandrasekhar said, “It's a great time to be an entrepreneur. It is a great time to be a start-up. It is an absolute mission and article of faith for our Prime Minister (Narendra Modi) and our government that the expansion of the start-up ecosystem, funding it, fuelling it, and creating innovations in the start-up ecosystem…are out there in a post-COVID-19 world in a manner where intellectual properties are created.”
In her Budget speech this month, Finance Minister Nirmala Sitharaman had announced the setting up of thematic funds for blended finance in the ‘sunrise’ sectors of digital economy, deeptech, agritech, climate action, and pharma. Blended finance mixes public capital with market-based funds to essentially mobilise additional commercial funding towards sustainable development.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
EXATRON SERVERS MANUFACTURING PVT. LTD.
ZOHO CORPORATION PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
POLYCAB INDIA PVT. LTD
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
PARTNER SPEAKERS
PSU
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
