Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2015-02-11

RBI to allot Rs 2,000 crore for startup fund next year

A seven-year fund-of-funds will be carved out of the Rs 10,000 crore allocation and managed by a nodal bank.

The Reserve Bank of India will allocate Rs 2,000 crore for the government’s proposed startup fund in the next financial year, reports the Economic Times. During the budget presentation in July last year, finance minister Arun Jaitley had proposed a Rs 10,000 crore startup fund to attract private capital by providing equity, quasi equity, soft loans and other risk capital for startups.

The report also mentions that a seven-year fund-of-funds will be carved out of the Rs 10,000 crore allocation and managed by a nodal bank, which is reported to be either ICICI Bank or Small Industries Development Bank of India (SIDBI). The money will be deployed to investment firms that apply for it.

The fund is also reported to have a clause looking to restrict the flight of startups overseas, and venture funds drawing from it to invest the money only in India-registered startups. A government official told ET that the fund will work in a co-investing model whereby VC funds will have to put in 70-90 per cent of the investment and take 20-30 per cent from the nodal bank, but he added that the percentage of government’s contribution is still to be decided.

Related opportunities
  • Art, Craft, Antique & Framing
    About:Navrang is a handmade-centric venture of Navcraft Handlooms Pvt. Ltd..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 600 - 1500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Healthcare Products
    An Innovative & Effective Health & Wellness brand Invites Distributors ADD VEDA,..
    Locations looking for expansion Punjab
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 500 - 700 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
  • Texture Touch Business Opportunity for the one planning to grow..
    Locations looking for expansion Karnataka
    Establishment year 2012
    Franchising Launch Date 2014
    Investment size Rs. 20lac - 30lac
    Space required 800sqft
    Franchise Outlets 500-1000
    Franchise Type Unit, Multiunit
    Headquater Bangalore Karnataka
  • Quick Service Restaurants
    WE ARE LOOKING FOR FRANCHISEES ONLY IN MUMBAI.If there is..
    Locations looking for expansion Maharashtra
    Establishment year 2013
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 200 - 400 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities