Connect with us

Govt’s new digital platform to help investors & startups sign deals quickly

investors

Latest

Govt’s new digital platform to help investors & startups sign deals quickly

The Indian government will establish a digital cooperation platform for businesses and investors to ease and rapidly conclude transactions. The new platform will first accept Indian investors and investment firms and will search for worldwide funding.

The government will establish a specialized digital cooperation platform for businesses and investors in order to facilitate and rapidly conclude transactions. The platform will be launched in collaboration with the Small Industries Development Bank of India by the Department of Promotion for Industry and Internal Trade (DPIIT) (SIDBI).

Shruti Singh, joint secretary of the DPIIT, stated, “This was accepted at one of the national startup advisory council sessions. It is a matchmaking tool for companies and investors that is nearing completion. We plan to publish it within the next two months.”

Singh stated that the platform will initially integrate Indian investors and fund firms before looking for global money after analyzing its performance.

She explained, “Under this program, alternative investment funds (AIFs) will be established.The industries that the investors are interested in and how much money they are ready to invest will be identified.”

As part of the Startup India program, the government launched a Fund of Funds for Startups (FFS) plan in 2016 with a capital of Rs 10,000 crore to give startup financing support. The government grants funds to registered AIFs under the system.

According to Singh, around Rs 7,300 crore has been committed to approximately 86 AIFs, and the AIFs are capable of raising seven times more capital in the market.

The government has established a startup India seed fund with a Rs 945 crore investment to help entrepreneurs with proof of concept, prototype development, product testing, market entrance, and commercialization. The project planned to help an estimated 3,600 entrepreneurs over the following four years through 300 incubators.

Click to comment

Leave a Reply

Your email address will not be published.

More in Latest

To Top