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๐ Empowering India's Innovators: DPIIT's Enhanced Credit Guarantee Scheme In a significant move to bolster India's startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has announced pivotal enhancements to the Credit Guarantee Scheme for Startups (CGSS). These changes aim to provide startups with greater access to collateral-free funding, fostering innovation and growth. Key Highlights of the Revised CGSS: Increased Guarantee Cover: The maximum guarantee cover per borrower has been doubled from โน10 crore to โน20 crore. Enhanced Coverage Percentage: The scheme now offers an 85% guarantee for loans up to โน10 crore and a 75% guarantee for loans exceeding โน10 crore. Reduced Annual Guarantee Fee (AGF): Startups operating in 27 identified 'Champion Sectors' under the 'Make in India' initiative will benefit from a reduced AGF of 1% per annum, down from the previous 2%. Implications for the Startup Ecosystem: Facilitating R&D and Innovation: The enhanced scheme aims to reduce the perceived risks associated with lending to startups, thereby enabling greater financial flow for startups to undertake research and development (R&D), experimentation, and create cutting-edge innovation and technologies. Encouraging Financial Institution Participation: With increased guarantee support and coverage, more financial institutions are expected to provide credit support to startups, increasing the overall fund flow within the startup ecosystem. Promoting Self-Reliance: These measures align with the vision of transforming India into an innovation-driven, self-reliant economy, addressing the financing needs of innovation-driven startups. A Step Towards 'Viksit Bharat': The revised CGSS is a strategic initiative to propel India towards becoming a 'Viksit Bharat' (Developed India) by nurturing a vibrant startup ecosystem. By providing enhanced credit support and reducing financial barriers, the government is fostering an environment conducive to innovation and entrepreneurship. For Startups: Eligible startups recognized by DPIIT can approach registered financial institutions, including Scheduled Commercial Banks, All India Financial Institutions (AIFIs), Non-Banking Financial Companies (NBFCs), and SEBI-registered Alternative Investment Funds (AIFs), to avail the benefits under the revised CGSS. Let's embrace this opportunity to drive innovation and contribute to India's growth story. #StartupIndia #Innovation #Entrepreneurship #DPIIT #CGSS #ViksitBharat #MakeInIndia #StartupFunding
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Indian Government Expands Credit Guarantee Scheme for Startups The Indian government has doubled the Credit Guarantee Scheme for Startups, increasing the maximum loan cover from โน10 crore to โน20 crore. This will help startups access more capital and
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๐ช๐ต๐ฎ๐'๐ ๐ถ๐ป ๐๐ต๐ฒ ๐จ๐ป๐ถ๐ผ๐ป ๐๐๐ฑ๐ด๐ฒ๐ ๐ฎ๐ฌ๐ฎ๐ฑ ๐ณ๐ผ๐ฟ ๐๐๐ฎ๐ฟ๐๐๐ฝ๐? The government aims to support 5.7 crore MSMEs with enhanced financial assistance and policy measures. Loan guarantees for micro-entrepreneurs will be expanded to ens
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๐ฐ In 2023, over 1,500 Indian startups were funded through government schemes like the Startup India early stage Seed Fund Scheme (SISFS), which allocated โน950 crore, and the Credit Guarantee Scheme for Startups (CGSS) By BJP Government and interesti
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How many of these government schemes to support the startup ecosystem are you aware of? 1. Startup India Initiative (SII) [2016] - This scheme offers three years tax holiday and reduced regulatory burden along with access to a Fund of Funds worth โน1
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**Opportunity Alert: CGTMSE Scheme for MSEs** Dear all, Exciting news! The CGTMSE Scheme offers collateral-free loans up to *Rs. 2 crore* for micro and small enterprises (MSEs). Key features include: - No need for collateral or third-party guarante
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๐ Seeking 10 Startups for Seed Funding! ๐ We are helping 10 promising startups secure funding under the Startup India Seed Fund Scheme (GOI). If your startup is ready to scale, this is your chance! Eligibility Criteria: โ Registered as Pvt Ltd/LL
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What are the key Budget announcements for startups? Finance Minister Nirmala Sitharaman said the government will set up a new fund of funds worth โน10,000 crore for startups. The credit guarantee cover for startups has also been increased from 10 cr
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๐ Exciting News for MSMEs! ๐ The government is rolling out a new credit guarantee scheme to help MSMEs get loans up to Rs 100 crore without needing collateral. This is a big boost for small businesses looking to grow and invest in machinery and eq
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