Tata Trusts to be a founding partner of Bharat Fund

Tata Trusts would be among the founding partners for Bharat Fund that aims to raise $150 million for innovative Indian start-ups and provide technical assistance to entrepreneurs. Others pushing the fund are the ministry of new and renewable energy, department of industrial policy and promotion and department of science and technology.

"India needs disruptive ideas and technologies to revolutionise lives of the masses. Tata Trusts believes entrepreneurship is one of the more effective means of creating scalable solutions and we are delighted to be a partner in the Bharat Fund," said Tata Trusts chairman Ratan N Tata.

Tata Trusts is one of India's oldest, non-sectarian philanthropic organisations involved in areas of community development.

Prime Minister Narendra Modi had announced the launch of the Bharat Fund during his recent trip to the US. The fund would support disruptive start-ups in impact areas such as agriculture, health, energy and other technologies. The announcement was made at the India-US Startup Konnect organised by Nasscom, TiE Silicon Valley and IIM Ahmedabad's Centre for Innovation, Incubation and Entrepreneurship, on the sidelines of Modi's visit to the Silicon Valley.