NSE and IIM Calcutta to help start-ups in West Bengal
Updated: Mar 21, 2015 03:15:43pm
Calcutta, March 21 (KNN) IIM Calcutta and National Stock Exchange (NSE) have been roped in by the Government of West Bengal to help small and medium industries after they avail the state’s Rs 200 crore venture capital fund.
A Rs 200 crore venture capital fund was proposed to be created by the government in January earlier this year to help potential entrepreneurs and start-up companies along with the proposal to develop applications and solutions related to cloud computing and mobile value added services.
Since for a firm to raise public money through stock exchange, it is important to make a viable plan and prepare a blue print for growth along with funds, the state government has tied up with Small Industries Development Bank of India (SIDBI) to provide 15 per cent of the fund. SIDBI will provide Rs 30 crore, state government Rs 100 crore to the corpus and the rest to come from other private investors. The fund will provide equity capital to the start-ups whereas 20% of the corpus will be earmarked for providing incubation support to such firms.
IIM Calcutta Innovation Park has been asked to provide incubation support to these start-ups right from the first step of screening the proposals to advising changes to making them feasible. For this an IIM-C faculty and an alumunus have been designated. They can also apply online.
To encourage the firms to come up with an IPO, National Stock Exchange will provide these firms with necessary support and know-how so that they can grow in a self-sufficient way.
A website -http: www.msmebengalinvest.in where an entrepreneur can log in and submit his proposals to be screened by the IIP later has been designed. To help an entrepreneur get all necessary approvals and licences in order to start a unit, the state has also started websites as part of the single window policy of the government. (KNN/SS)
A Rs 200 crore venture capital fund was proposed to be created by the government in January earlier this year to help potential entrepreneurs and start-up companies along with the proposal to develop applications and solutions related to cloud computing and mobile value added services.
Since for a firm to raise public money through stock exchange, it is important to make a viable plan and prepare a blue print for growth along with funds, the state government has tied up with Small Industries Development Bank of India (SIDBI) to provide 15 per cent of the fund. SIDBI will provide Rs 30 crore, state government Rs 100 crore to the corpus and the rest to come from other private investors. The fund will provide equity capital to the start-ups whereas 20% of the corpus will be earmarked for providing incubation support to such firms.
IIM Calcutta Innovation Park has been asked to provide incubation support to these start-ups right from the first step of screening the proposals to advising changes to making them feasible. For this an IIM-C faculty and an alumunus have been designated. They can also apply online.
To encourage the firms to come up with an IPO, National Stock Exchange will provide these firms with necessary support and know-how so that they can grow in a self-sufficient way.
A website -http: www.msmebengalinvest.in where an entrepreneur can log in and submit his proposals to be screened by the IIP later has been designed. To help an entrepreneur get all necessary approvals and licences in order to start a unit, the state has also started websites as part of the single window policy of the government. (KNN/SS)
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