No Shortage of Funds for Start-ups, Investment Portal to be Opened Soon

Looking at the rise in start-ups, there have been preparations done so that the new start-ups don’t have to face issues regarding funds. A portal is being launched on which both the start-up and the investors would be available so it’s easier for them to converse and find a solution. On the initiative taken by the Ministry of Commerce and Industry, the Small Industries Development Bank of India (SIDBI) is working on developing this portal. A Minister of the ministry has conveyed that the portal might be launched within the next two months. For now, only domestic investors will be available on the portal, but later on, foreign investors might be given a place on the portal. This portal will also be connected with various ministries and departments which might invest in and adopt the idea of the start-up if they find the same interesting.

The government has provided a Fund of Funds and a Start-up seed Fund for the funding of the start-ups. Till now 660 start-ups have been awarded 9500 Crore rupees through the Fund of Funds. Start-up India Seed Fund has provided 365 Crore rupees help to 99 Incubators. State-up has been provided tax relief for up to three years from the Government.

Within 6 Months more than 72,000 start-ups have been opened

According to the Ministry of Commerce and Industry Start-up India has been started on 16^th January 2016, and within 6 months more than 72000 startups have been opened under the same. Women are working in more than 50 % of start-ups amongst these start-ups. These 72000 start-ups have given employment to more than 7.5 lakh of people. on average 11 people are employed in a single start-up and the most important thing is that all the states and UTs of India have these start-ups.

50 Percent of start-ups in small cities

According to the officers 50 per cent of start-ups are in the small cities and to issue funds the small city start-ups are given preference over the others. In all of India to date, 103 Unicorns (turnover above 1 Billion) have been established. India is the only third country after America and China to have established Unicorn. To motivate the establishment of the states have been ranked for the last three years. Currently, Gujarat and Karnataka are the top states in establishing the start-up eco-system.