Over ₹477 crore approved for incubators under Startup India seed fund scheme: Govt
1 year, 10 months ago

Over ₹477 crore approved for incubators under Startup India seed fund scheme: Govt

Live Mint  

New Delhi: Over ₹477 crore, of a ₹945 crore corpus fund, has been approved to incubators under Startup India Seed Fund Scheme as on 31 December 2022, Minister of State for Commerce and Industry Som Parkash said on Friday. 211.63 crore has been disbursed as on 31st December 2022.” Fagship schemes under Startup India--Fund of Funds for Startups, Startup India Seed Fund Scheme and Credit Guarantee Scheme for Startups --extend support to startups at various stages of their business cycle. The Startup India Seed Fund Scheme, which is being implemented by the government with effect from 1 April 2021, provides financial assistance to eligible Department for Promotion of Industry and Internal Trade recognised startups for proof of concept, prototype development, product trials, market entry and commercialisation. The Centre also conducts annual exercises and programmes including States’ Startup Ranking, National Startup Awards and Innovation Week which play an important role in holistic development of the startup ecosystem.

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History of this topic

Public procurements may come with startup quotas
2 weeks, 6 days ago

Public procurements may come with startup quotas

Live Mint  

Top central ministries are discussing a proposal that may mandate public sector units to purchase 10% of their requirements from startups, two people aware of the development said. Some of India's ongoing efforts to encourage startups sector include the Startup India seed fund initiative and Atal Innovation Mission. This initiative not only provides a platform for startups to showcase innovative …

IIT-B incubator to start ₹100 crore VC fund
1 month ago

IIT-B incubator to start ₹100 crore VC fund

Hindustan Times  

Mumbai: The Society for Innovation and Entrepreneurship, the business incubator at Indian Institute of Technology Bombay, is planning to start a ₹100-crore venture capital fund focused on deep-tech startups in critical areas like science, biotechnology, space and defense. IIT-B incubator to start ₹ 100 crore VC fund The ambitious expansion plan builds on SINE’s two-decade long track record in nurturing …

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions
1 month, 4 weeks ago

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions

Firstpost  

India has approved a $119 million venture capital (VC) fund to support space start-ups in the country. The fund will provide capital to 40 start-ups over the next five years, with an average deployment amount ranging from Rs 10-60 crore. This fund is expected to have a significant impact on India's space ambitions, boosting the country's space economy and creating …

Commerce Ministry To Likely Propose More Funds To Boost Start-up Culture In Next Budget
6 months, 2 weeks ago

Commerce Ministry To Likely Propose More Funds To Boost Start-up Culture In Next Budget

ABP News  

The Commerce and Industry Ministry could be looking for more funds for start-ups in the upcoming Budget, an official said. Announced in April 2021 with a corpus of Rs 945 crore, the fund was launched to help provide financial assistance to new businesses for proof of concept, prototype development, product trials, commercialisation, and market entry. According to a report by …

India’s startup growth to pave way to developed nation by 2047: PM Modi
9 months ago

India’s startup growth to pave way to developed nation by 2047: PM Modi

Live Mint  

India has emerged as the world's third-largest startup ecosystem, a development that Prime Minister Narendra Modi believes will chart the country's course towards becoming a developed nation by 2047. In the field of Intellectual Property Rights, India is moving towards becoming the leading country among the top countries.” The Startup Mahakumbh was organized in collaboration with various entities, including Assocham, …

Budget 2023: Centre's vision for 'Amrit Kaal' is a technology-driven, knowledge-based economy
1 year, 10 months ago

Budget 2023: Centre's vision for 'Amrit Kaal' is a technology-driven, knowledge-based economy

Firstpost  

With emphasis on AI, 5G and technology and a focus on Green Growth, the Union Budget 2023-24 has emphasised on creating opportunities with sustainability. This is a very forward-looking budget and will most certainly help key stakeholders utilise opportunities for higher growth Finance Minister Nirmala Sitharaman presented a blueprint for an improved economy and reiterated her intention to bring the …

Success rate of startups in India higher than in other countries: Piyush Goyal
2 years ago

Success rate of startups in India higher than in other countries: Piyush Goyal

The Hindu  

The government on Wednesday said that the success rate of startups in India was much higher than in other countries of the world, and the number of startups in the country had increased from 452 in 2016 to 84,012 till November 2022. Though I must say, the success rate of startups in India is relatively higher than the rest of …

India witnesses a massive 15,400% rise in startups in last 6 years
2 years, 4 months ago

India witnesses a massive 15,400% rise in startups in last 6 years

Live Mint  

India registered a whopping rise of 15,400% in the number of startups that rose from from 471 in 2016 to 72,993 as on 30th June 2022. In a written reply to a question in the Rajya Sabha, Union Minster of State for Commerce and Industry Som Prakash stated that the Startup India initiative was launched in 2016 with the objective …

Union Budget 2022: What start-up companies and MSME sector are expecting this year
2 years, 10 months ago

Union Budget 2022: What start-up companies and MSME sector are expecting this year

Firstpost  

The pandemic disrupted the world and life as we knew it, changed. As we get closer to the announcement of the government’s financial budget for the nation, I would like to highlight my expectations for the start-up environment and the MSME sector which is the medium-sized enterprises and how the government could focus on the taxation, funding or enabling cash …

Planning a startup? Check these 5 seed stage incubation programmes in India
3 years, 8 months ago

Planning a startup? Check these 5 seed stage incubation programmes in India

India Today  

Some of the world’s most successful startups in India have been backed up by Startups Incubators. IAMAI Industry body IAMAI has launched the country's first virtual incubator for short and mid-term needs of technology-related startups arising amid the global pandemic situation. The primary function of the virtual incubator is to address the needs of the start-ups located outside the major …

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari
3 years, 10 months ago

91 lakh guarantees issued till Jan 25 under ECLG scheme: Nitin Gadkari

Live Mint  

MSME Minister Nitin Gadkari on Monday said under the Emergency Credit Line Guarantee Scheme, around 91 lakh guarantees have been issued till January 25 this year. In a written reply to the Rajya Sabha, he said during the current financial year, a total number of 31,923 units were setup under the ongoing Prime Minister Employment Generation programme and 5,21,746 guarantees …

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