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
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
WIPRO LTD.
STERLITE TECHNOLOGIES LTD.
BHARAT ELECTRONICS LTD.
GLOBUS INFOCOM LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
ICONS OF INDIA : VINAY SINHA
Vinay Sinha is the Managing Director of Sales for the India Mega Regio...
PARTNER SPEAKERS
PSU
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
