Indian Government to launch seed fund ?
This story in BS caught my eye.
The Indian government is taking steps to float a fund to make seed capital available to entrepreneurs. The govt. is putting together a framework for setting up an innovation promotion council. The fund’s initial corpus of Rs. 75 crores will come from the Dept. of Science and Technology. Three entities will be involved - the govt., TiE (to rope in VC and angel funds once the seed funding is over) and ISB (where ideas will be examined and nurtured).
The idea seems to be inspired by Israel’s efforts at such incubators.
October 27th, 2007 at 12:31 am
This looks exciting. Now we have to wait and see how well this is implemented.
October 27th, 2007 at 5:52 am
The idea is good, but in typical Indian fashion they will manage to destroy it in execution.
Besides these small funds cannot make up for inherent inefficiencies in infrastructure like electricity. And then there is absurd cost of bandwidth in India.
Indians who want to be successful have to move out from this country.
October 29th, 2007 at 3:56 am
Thats the news ….
The idea is very exciting. However, this will take consume some time to be implemented.
There are lot of other people who have taken an initiative in coming up with this idea. soon there will be a lot of competition in the market as entrepreneurs and investors… One such portal is http://www.pitchindia.com who promises to a platform for global investors and entrepreneurs.