New Delhi, Oct 15, 2016: The government will soon set up a credit guarantee fund for start-ups with a corpus of Rs 2,000 crore with the aim to provide them with easy funding options, a top official said here on Saturday.
“With this corpus of Rs 2,000 crore in place, the start-ups would receive financial support for their ventures, which will further motivate entrepreneurship,” Ramesh Abhishek, Secretary, Department Of Industrial Policy and Promotion (DIPP), said while addressing a conference on “Start-Up India, Challenges and Sustainability”, organised by the PHD Chamber of Commerce and Industry (PHDCCI).
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Without prescribing any time limit for the fund to come up, Abhishek said with the fund becoming operational in the near future, start-ups can look forward to financial assistance for their ventures that would be available easily.
Responding to a suggestion mooted by PHD Chamber President Mahesh Gupta, seeking relaxations in existing taxes for start-ups, Abhishek said that the issue is being pursued by the government with various stakeholders.
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Speaking on the occasion, Minister of State for Human Resource Development Mahendra Nath Pandey said the sufficient incentives should be given to those who wish to set up their venture, to promote the spirit of innovation. (IANS)
Recently celebrities have been ready to invest in valuable startups. India has become one of the fastest growing startup ecosystems in the world, hence many celebrities seem to have growing business interests.
Here is the list of top 10 celebrities which are funding some major startups.
The actor decided to invest $250,000 in a startup based in Singapore, in 2015. Ziddu, a cloud service provider, was founded by Venkata Srinivas Meenavalli. It is run by Meridian Tech, and also offers free file hosting for documents, pictures, video, and audio.
2. Grouphomebuyers.com funded by Shilpa Shetty
A site which has a listing of new and upcoming residential projects from top cities. Shilpa Shetty is the co-founder of this website which has helped 200 families get properties at discounted prices.
3. Pulse funded by Chetan Bhagat
This new age photo-sharing mobile app was founded by Karthik Vaidyanath and Prakhar Khanduja. This app has a combo of articles and user-generated content. It is a bit like Snapchat, but one major difference is that you cannot take screenshots of this one. Many prominent people have participated in its funding, one name is Chetan Bhagat.
4. Healthians funded by Yuvraj Singh
One of the many startups that Singh has invested in, is Healthians. It is a home service health test platform that operated in NCR. It is now launched in Mumbai and Bangalore too.
5. Qyuki funded by A.R. Rahman and Shekhar Kapur
They both joined hands in 2012 to launch a social media platform. Qyuki aims to engage Indian youth to new media content. It was built on Cisco’s cloud infrastructure and had received an investment from it too.
All of us know about Being Human. However, what we don’t know is that Salman Khan has a 5% stake in Yatra.com. He is also the brand ambassador for the company.
7. HealthEminds funded by Robin Uthappa
It was in March 2016 that Uthappa invested an undisclosed amount in HeathEMinds. The startup aims at helping people to deal with mental stress and depression. It was started in 2013, the startup offers video counselling without disclosing the identity of the caller.
8. Muvizz funded by Manoj Bajpayee
Muvizz was founded by Bajpayee’s friends Abhayanand Singh and Piyush Singh. This startup offers cult, classic and independent films to lovers of cinema around the world. It is a Video-On-Demand platform.
9. GOQii funded by Madhuri Dixit
This startup designs wearable fitness bands, it also provides fitness training. Madhuri started out as an investor with GOQii founded by Vishal Gondal. Dr. Sriram Nene, Dixit’s husband, is the CMO of the company.
10. Indi funded by Anil Kapoor
It is video social network founded by Neel Grover which was launched in 2012. Kapoor invested an undisclosed amount in the startup.