New Delhi: As the government is chalking out a strategy to bring investors and startups on a common platform, LIC and Employees’ Provident Fund Organization (EPFO) are among those willing to fund startups.
being prepared by the platform Sidbi, which already manages a fund for startups, showing interest during LIC and EPFO meeting National Startup Advisory Council Under the chairmanship of Commerce and Industry Minister Piyush Goyal.
Anil Agarwal, additional secretary in the department for promotion of industry and internal trade, told TOI that a key area of focus was providing early-stage funding. “India has around 6,000 angel investors, while the US has close to three lakh. We are looking at regulatory and other issues to further strengthen the system.
He said the government is also starting a program for mentorship, an idea that was suggested softbankManoj Kohli. The idea is to set up a technology platform through which match-making can be done and the field can be expanded. This step was taken amidst the latest support for the emphasis being given to startups in government policies.
“The government is committed to cut red tape, improve ease of doing business, provide financial assistance through startup seed funds, support incubators, enhance skills and this holistic approach aims to address issues related to raising capital, The aim is to support innovation with Tinkering Lab, and meet the capability and capability requirements of startups,” Goyal said at the meeting.
being prepared by the platform Sidbi, which already manages a fund for startups, showing interest during LIC and EPFO meeting National Startup Advisory Council Under the chairmanship of Commerce and Industry Minister Piyush Goyal.
Anil Agarwal, additional secretary in the department for promotion of industry and internal trade, told TOI that a key area of focus was providing early-stage funding. “India has around 6,000 angel investors, while the US has close to three lakh. We are looking at regulatory and other issues to further strengthen the system.
He said the government is also starting a program for mentorship, an idea that was suggested softbankManoj Kohli. The idea is to set up a technology platform through which match-making can be done and the field can be expanded. This step was taken amidst the latest support for the emphasis being given to startups in government policies.
“The government is committed to cut red tape, improve ease of doing business, provide financial assistance through startup seed funds, support incubators, enhance skills and this holistic approach aims to address issues related to raising capital, The aim is to support innovation with Tinkering Lab, and meet the capability and capability requirements of startups,” Goyal said at the meeting.
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