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News on Medial
Centre Planning Deeptech Startup Policy With Fund Of Funds: Report
Inc42
·
1y ago
Medial
The government is set to introduce a national deep tech startup policy that provides funding to companies in the sector. The policy is also designed to address intellectual property gaps in India. The draft policy requires a minimum grant of INR 2 crore for proof-of-concept funding and INR 3 crore for prototype funding.
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IIM Bangalore incubator floats accelerator fund for deep-tech startups
VCCircle
·
1y ago
Medial
The Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup incubator of IIM Bangalore, has partnered with Small Industries Development Bank of India (SIDBI) to launch a deeptech-focused pre-seed startup accelerator fund. The corpus of the fund has not been disclosed. NSRCEL aims to support and invest in deeptech and emerging ventures, expanding its role beyond just supporting startups. SIDBI manages a Rs 10,000 crore fund-of-funds for startups and has previously backed VC firms like Blume Ventures and Chiratae Ventures.
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Centre In The Final Leg Of Building A Dedicated Policy For Deeptech Startups: DPIIT Secy
Inc42
·
1y ago
Medial
The Indian government is finalizing a dedicated policy to support deeptech startups, with plans to create a fund of funds to support their growth. The policy aims to promote sectors such as AI, semiconductor manufacturing, spacetech, and other related segments. The government's focus on deeptech is part of its broader efforts to boost research and development in sunrise sectors. In addition, the government aims to increase procurement from the startup ecosystem, with the Government e-Marketplace (GeM) having already procured products worth INR 22,000 crore (approximately $3 billion) from startups.
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From Critique to Collaboration: Piyush Goyal Engages Founders on India's Startup Future
OutlookIndia
·
3m ago
Medial
Union Commerce Minister Piyush Goyal engaged with startup founders, including OYO’s Ritesh Agarwal, to discuss India’s startup ecosystem, focusing on deeptech, policy frameworks, and expanding to smaller cities. This follows his earlier criticisms of Indian startups. Goyal emphasized government support through funds of funds and easing business operations for startups in Tier 2 and 3 cities. The Startup Policy Forum’s initiative, Startup Baithak, aims to create a roadmap for India’s startup growth, featuring prominent startup founders.
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Decoding Bharat Innovation Fund’s $100 Mn deeptech investment play in India
Inc42
·
1y ago
Medial
Bharat Innovation Fund (BIF) is a deeptech-focused thematic fund in India. Founded in 2018, the fund is betting on the country's deeptech startup ecosystem, which is growing rapidly. BIF believes that deeptech startups have the potential to develop innovative solutions for various sectors and address global challenges. The fund primarily invests in pre-Series A and Series A rounds of B2B deeptech startups that already have a global customer base or the potential to cater to global customers. BIF has invested in 10 startups so far and is planning to raise its second fund soon.
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Funding, market framework for deep-tech startups in two months
Livemint
·
1y ago
Medial
The Indian government plans to create a ₹1 trillion fund to provide long-term loans at low or no interest rates to startups in deeptech sectors such as space exploration, high-end chips, and defence technology. The fund, part of India's National Deeptech Startup Policy, aims to support companies in these sectors that struggle to secure capital. An inter-ministerial committee led by the Department of Space is working on the framework for the fund, which is expected to be announced in the next two months. The fund will also focus on nurturing research, innovations, standards and market access for deeptech ventures.
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Piyush Goyal announces national helpline desk for startups
Economic Times
·
4m ago
Medial
Commerce and Industry Minister Piyush Goyal launched a dedicated Startup India Desk, a national helpline aimed at supporting entrepreneurs in addressing regulatory challenges and government-related issues. Announced at Startup Mahakumbh in Delhi, this initiative offers startups a platform to report concerns, suggest policy improvements, and navigate regulations. Concurrently, the government approved the second Fund of Funds for Startups with a Rs 10,000 crore corpus, focusing on early-stage funding, particularly in deep-tech sectors.
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DFDF to widen investor base in three-phase expansion strategy
VCCircle
·
1y ago
Medial
Dubai Future District Fund (DFDF), the first evergreen venture capital fund-of-funds in the region, is planning a three-phase expansion strategy to attract a wider range of investors. With an initial funding of $200 million from the Dubai Future Foundation and Dubai International Financial Centre, DFDF aims to diversify its capital base and boost its growth. The fund aims to support innovative startups and drive economic development in Dubai's future district.
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Solinas Backer 8X Ventures Hits First Close Of INR 200 Cr Fund
Inc42
·
1y ago
Medial
8X Ventures, a deeptech-focused VC firm, has raised over INR 60 Cr in commitments for its fund. The firm plans to invest the funds in 18-20 early-stage startups in the deeptech sector. Each startup will receive an initial investment of INR 2-5 Cr, with the possibility of total investments of up to INR 20 Cr in select startups. 8X Ventures was founded in 2021 and aims to invest in startups that create sustainable value.
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Fund Of Funds Commits INR 9,500 Cr To Aid Startups: SIDBI Chairman
Inc42
·
1y ago
Medial
The Fund of Funds for Startups (FFS), led by the Small Industries Development Bank of India (SIDBI), has committed INR 9,500 Cr to support new ventures in India. This commitment has resulted in over 100 alternative investment funds (AIFs) raising more than INR 56,000 Cr. The FFS, announced in 2016 under the Startup India initiative, aims to contribute to AIFs registered with SEBI. The fund has already supported startups in sectors such as deeptech, agritech, healthtech, fintech, and sustainability, with 18 of them achieving unicorn status.
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Bharat Innovation Fund to target larger corpus for second VC fund
VCCircle
·
1y ago
Medial
Bharat Innovation Fund, a venture capital firm focused on deeptech, is planning to launch its second fund with a larger corpus than its first fund. The firm has previously invested in companies such as Entropik and Nayam Innovations. According to a co-founder of the fund, they are currently in the process of filing for the new fund and are hopeful about securing a higher target corpus.
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