The Indian government lately shifted its focus upon nurturing startups which can generate jobs for the masses. The govt. has eased several processes related to the registration and initial operation of these companies. The GOI also set up a Rs. 10,000 crore ‘Fund of Funds for Startups’. Now, in a…
Tag: SIDBI
Banks or VCs; where should start-ups seek funds?
Startups have always yearned for VC funding and have been slightly unaware of the advantages of seeking the same money from government bodies. Dr. Som Singh, Founder and Trustee of Center for Entrepreneurial Excellence (CEE), spoke about the galore of advantages that startups can avail by partner…
Mynd Solutions to launch Online National Exchange for TReDS
Gurgaon-based Mynd Solutions will launch Online National Exchange for Receivables over the next three months, its CEO said. “We have received Reserve Bank of India’s (RBI) in-principle approval to implement ‘TReDS’ (Trade Receivables Discounting System). We have created M1…
India Inc putting CSR money in start-up incubators
Companies like SAP, Tata Motors and Bajaj Electricals are investing in startups through government-affiliated incubators as a part of their mandatory corporate social responsibility (CSR) spending. Nearly a dozen companies have shown interest in spending CSR money in incubators at the IITs and II…
The case for venture debt in Indian start-ups
Venture debt is increasingly becoming a fairly common component of funding rounds in India. The thesis for venture debt in mature markets is largely centred on intellectual property-driven tech companies, mostly having patents, which can be easily monetized. But this is rarely the case in India. …
Rs 10 cr disbursed to boost startups: Karnataka IT Minister
The Karnataka Startup Cell has witnessed nearly 1,400 registrations in the last two months and close to Rs eight to Rs ten crore has been disbursed under the “Innovate Karnataka” initiative to provide assistance to startups, state IT Minister Priyank Kharge said. “The actual tak…
Young entrepreneurs to get more funding from govt
To support young entrepreneurs, the central government will launch ‘special funds’ for those in the 16-21 years and 21-26 years age groups. “It’s on the drawing board. We have accumulated funds worth Rs 9,000 crore under the technology cess category, and we want to use this. We might launch incub…
MSE credit cover fund not self-sustaining: RBI
The Reserve Bank of India has cautioned the government that operations of one of the country’s largest credit guarantee funds, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), is not self-sustaining. CGTMSE has given outstanding guarantees of `65,200 crore till Septembe…
Government says Mudra loans not under high bad debts
The government has sought to allay fears that loans extended under the Mudra scheme, particularly those given through Micro Finance Institutions (MFIs), would add to bad debts in the lending system. There were apprehensions that these unsecured loans carried high risks. Mudra loans are given to t…
UP Govt. to notify Rs.10 lakh subsidy for plant & machinery in Micro and SSI Units
UP Govt. to soon notify Rs.10 Lakh worth of subsidy for plant and machinery in Micro and SSI Units from presently Rs.2 Lakh, says Assistant Commissioner, Noida The Government of Uttar Pradesh is going to enhance the subsidy element for plant and machinery deployed in units of micro and small scal…