Maharshtra to Launch Rs. 200 Crore Fund for Women-Led Deep Tech Startups 

Maharashtra will launch a Rs.200 crore fund to invest in deep tech startups from the state, which are preferably led by women and socially relevant, a senior official said on Friday. The “Maharashtra Innovation and Technological Development Fund” will be a Rs.200 crore corpus for early-stage startups in the state, Manisha Verma, the principal secretary for skills, employment, entrepreneurship and innovation department, said while addressing a Tiecon event here.

“The fund will have a special focus on deep/tech, women-led businesses and socially relevant startups,” she said in her presentation at the annual summit.

Verma said the state is also mulling to launch a seed fund for startups, but did not share details of the same.

The state already has a slew of vehicles to make equity investments in startups, which have been launched in association with finance players having domain expertise, she added.

These include the Rs 120-crore Maharashtra Social Venture Fund, managed by the Small Industries Development Bank of India (Sidbi), Rs.330 crore Maharashtra State Defence and Aerospace Fund and Rs.80 crore fund for entrepreneurs hailing from marginalised communities –managed by IDBI Capital, she said.

The official, who looks after the Maharashtra State Innovation Society, said the annual “Maharashtra Startup week” is on right now and urged businesses to apply with entries for the same.

She said in the last four editions of the event, 96 startups have received orders of over Rs.14 crore through their participation.

Verma also said that a bulk of startups are coming up in the clusters like Mumbai, Thane, Pune, Aurangabad and Nagpur, and exhorted entrepreneurs to go deeper into other parts of the state.

She said special attention is being paid by the state on skilling to ensure that the right talent is available for companies where they need it.


Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More