ENA State 2025-01-17 13:59:58 <p><span style="font-size:14px"><strong>Mumbai, Jan 17 (KNN)</strong> Maharashtra Chief Minister Devendra Fadnavis announced a significant expansion of startup funding access through a new Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) on Thursday. </span></p> <p><span style="font-size:14px">The agreement establishes a Rs 100 crore fund, with Rs 30 crore allocated to each divisional centre, marking a shift from the previous Mumbai-centric fund management approach.</span></p> <p><span style="font-size:14px">The announcement came during the National Startup Day program organised by Maharashtra State Innovation Society in Mumbai, which attracted 1,000 startups from diverse sectors including technology, agriculture, service industries, pharmaceuticals, and tourism. </span></p> <p><span style="font-size:14px">The event, themed 'Empowering Innovation, Elevating Maharashtra,' showcased the state's commitment to entrepreneurial development.</span></p> <p><span style="font-size:14px">Highlighting Maharashtra's pioneering role in startup development, Fadnavis noted that the state was the first to implement its own startup policy. </span></p> <p><span style="font-size:14px">He particularly emphasised the success of the state's fund of funds initiative in the defence sector, which has supported over 300 Micro, Small, and Medium Enterprises (MSMEs) and startups in defence manufacturing. </span></p> <p><span style="font-size:14px">The Chief Minister also stressed the importance of expanding the startup revolution to tier 2 and tier 3 cities, acknowledging that many successful entrepreneurs emerge from these smaller urban centers.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span><br /> </p> 40684 https://knnindia.co.in/news/newsdetails/state/maharashtra-announces-rs-100-cr-startup-fund-in-collaboration-with-sidbi 2025-01-17 13:59:58 knnindia.co.in