SIDBI to create online platform for startups and investors

New Delhi, July 11 (KNN) Small Industries Development Bank of India (SIDBI) is developing an online platform with an aim to bring startups and investors together.

It will facilitate funding requirements of aspiring entrepreneurs.

This was confirmed last week by Shruti Singh, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).

She said that the portal is likely to be ready in the next two months. 

"The portal will have SEBI registered AIFs (Alternate Investment Funds). They will be one who would be interested in putting the money into the startups,” she added.

The AIFs will mention the particular sector they are interested in investing and startups will register on the portal with an aim to raise money from the market.

“Depending on my sector and whether an AIF is looking at an early stage or late stage funding, that match making will happen," said Singh

After that match making, pitching would take place and then the funding actually happens, she added. 

With this portal, startups would not have to look for AIFs outside. (KNN Bureau)