Search
Close this search box.

SIDBI catalyzes MSME start-ups in India

sidbi-e1461467058392-1170x480The Small Industries Development Bank of India (SIDBI) has tracked the same path as the Government of India (GOI) in encouraging start-ups in the micro, small and medium enterprise (MSME) space, ranging from agriculture to social sectors. The GOI’s “Start-up India” initiative is aimed at fostering entrepreneurship and promoting innovation by creating an eco-system that is conducive for the growth of start-ups.

In this regard, the GOI has set up a ‘Fund of Fund for Start-ups’ (FFS) amounting to INR 100 billion, with SIDBI as fund manager. The FFS is contributory to the Alternative Investment Funds (AIFs) for equity and equity- linked instruments of various start-ups at early, seed, and growth stages.

To facilitate start-up financial support, SIDBI has also set up an on-line platform www.sidbistartupmitra.in which enables start-up entrepreneurs to get connected with various stakeholders such as incubators, mentors, angel networks, venture capital funds and others. The portal, which is also supported by Department of Science and Technology (DST), has currently registered around 1,400 start-ups, 90 incubators and 80 investors. The portal helps start-ups to explore various government schemes as it also offers, among others, incubation, acceleration, financing options and training programs.

SIDBI has also contributed to 88 venture capital funds which has helped catalyze investment of more than INR 56 billion to 472 MSMEs. In addition, a Credit Guarantee Fund for the start-ups is also underway.

ADFIAP DevTalks

Related News