Kalraj Mishra launched SIDBI’s ASPIRE Fund in Mumbai

Mumbai, Oct 21 (KNN) Union MSME Minister Kalraj Mishra has launched the SIDBI’s Rs 60 crore ASPIRE fund to promote innovation, rural entrepreneurship and agricultural industry.

"SIDBI would contribute to various angel/ venture capital funds for investing in start-ups/ early stage enterprises focusing on value addition in the rural economy and job creation through social impact funding," Mishra said at the launch of the fund here on Thursday.

The Rs 60 crore fund of funds falls under A Scheme for Promotion of Innovation and Rural Entrepreneurship and agro industry (ASPIRE) for supporting various venture capital funds registered with market regulator SEBI for investing in startups in the agro and rural space.

Along with launching the fund, Mishra also attended a state level vendor development programme in the city.

Through a tweet, Mishra said, “Felicitated enterprises & launched Mobile app & MahaGyan website during State Level Vendor Development Program, Mumbai.” (KNN Bureau)