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How to get government funding for startup in India?

Question asked by Debasmita Banerjee in #Startups & Business on Jan 10, 2018
Debasmita Banerjee
Debasmita Banerjee · Jan 10, 2018
Rank B3 - LEADER
Have you noticed the start-up surge in the last 10 years? Of course, you know how once a startup leader now bears the tag of a celebrity and every bit of innovation wave that greatly tackled our rising and falling economy ultimately instigated a pool of people to start their own companies. And India has seen a lot of new businesses, trying to catch the attention of billions. However, what is the biggest problem that Indian startups face the most? The crown goes to the one and only, "Funding". Lack of funding and support is something enough to kill a plan in its first stage. Solution? Thanks to Indian Govt.'s #startupindia initiative that has rectified the statistics to a great extent.

I am trying to make a list of such govt. fundings for fellow engineers and also for future "me", in case it's required. All the opportunities are not direct but it definitely gives an economical support

List of Govt. funding opportunities that I am aware of:

1. Funding support through a fund of funds with a Corpus of Rs. 10,000 crore: The govt. has set up a yearly fund with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period of 4 years which will not be directly invested to startups but will be used as the capital of SEBI registered Venture Funds. An exhaustive list of SEBI registered funds are available in Startupindia website.

2. Micro Units Development and Startup Agency (MUDRA) Yojna: Initially started with a Rs. 20,000 crore to push 10 lakhs SMEs, this needs you to send your business proposal. Once approved, you will receive a MUDRA card, similar to a credit card which can be used in buying raw materials. You can be eligible for Shishu, Kishor, and Tarun, these three kinds of loans. For more, try searching MUDRA.

3. State-based funds: Depending on your company location you may be eligible for this fund.
# Startup Karnataka
# Kerala State Self Entrepreneur Development Mission
# Maharashtra Center for Entrepreneurship Development
# Startup Bengal
# iSTART Rajasthan

4. SIDBI: The organization is formed to flourish micro, small and medium-scale enterprises. Check out their direct finance scheme to find out more.

Other supportive initiatives must include 10,000 startups by NASSCOM.

Do you know some more? Don't forget to add them in the comments section below. Tell us how to to get some govt. funds for startups? Posted in: #Startups & Business

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