Federal Bank on Wednesday said it has created a Rs 25 crore corpus exclusively for investment in start-ups.
Federal Bank recently said it has created a Rs 25 crore corpus exclusively for investment in start-ups. The primary objective is to provide long-term capital to start-ups with innovative ideas, potential for high growth and ability to bring socio-economic impact.
The primary objective of the corpus is to provide long-term capital to startup companies with innovative ideas, potential for high growth and ability to bring socio-economic impact. It will be used for supporting small ticket projects in diverse sectors like digital financial services, biotechnology, hi-tech farming, healthcare, logistics, eCommerce/eMarkets etc., Federal Bank said.
Supporting startups will facilitate job creation and contribute towards economic growth. The bank will focus on projects in Kerala and Gujarat to start with. Federal Bank had, in March this year, joined hands with Startup Village in Kerala to launch India's first focused FinTech Accelerator Programme.
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