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Budget 2016: 5-fold hike for funding start-ups

For the next fiscal, government has increased the overall funding to startups from Rs 40 crore to Rs 200 crore

Press Trust of India  |  New Delhi 

A five-fold hike has been made by the government in its budget for funding start-ups in the next fiscal, a move which is in line with Prime Minister Narendra Modi's ambitious 'Start-Up India' initiative. According to Ashutosh Sharma, Secretary, Department of Science and Technology (DST), in the 2016-17 financial year, it will provide seed capital to 50-80 new ventures with funding ranging from Rs 50 lakh to Rs 1 crore per company. Read our full coverage on Union Budget 2016Read more from our special coverage on "START-UPS"myGubbi.com raises $2.5 mn in seed fundingIndian ...

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