 "Bharat Innovation gets Sebi nod to operate as VC fund")
IIM Ahmedabad-backed Bharat Innovation Fund has received market regulator Sebi's approval to operate as a venture capital fund.
The Bharat Fund is a public-private-academia partnership set up by IIM Ahmedabad's Centre for Innovation Incubation and Entrepreneurship (CIIE) that helps entrepreneurs turn ideas into viable businesses.
The objective of the fund is to support and provide funding (grants, seed capital, venture capital) and business support to innovation-driven start-ups that solve real problems faced by the masses through technology-enabled and rapidly scalable solutions.
It would focus on healthcare and life-sciences (including biotech, medical devices), sustainability (energy, agriculture, environment, water) and digital technologies (especially in manufacturing, design).
As per the latest update about registered Alternative Investment Funds with Sebi, Bharat Innovation Fund has secured the regulator's go-ahead to run business as category-I venture capital fund.
Under the norms, category-I funds get incentives from the government and regulators.
The Department of Biotechnology (DBT) had committed to invest Rs 50 crore in the fund over the next three years to help startup India initiative.
Earlier in September 2015, Prime Minister Narendra Modi during his US visit had announced the launch of the fund at the 'Startup Konnect' event in California.
The Bharat Fund is a public-private-academia partnership set up by IIM Ahmedabad's Centre for Innovation Incubation and Entrepreneurship (CIIE) that helps entrepreneurs turn ideas into viable businesses.
The objective of the fund is to support and provide funding (grants, seed capital, venture capital) and business support to innovation-driven start-ups that solve real problems faced by the masses through technology-enabled and rapidly scalable solutions.
Also Read
As per the latest update about registered Alternative Investment Funds with Sebi, Bharat Innovation Fund has secured the regulator's go-ahead to run business as category-I venture capital fund.
Under the norms, category-I funds get incentives from the government and regulators.
The Department of Biotechnology (DBT) had committed to invest Rs 50 crore in the fund over the next three years to help startup India initiative.
Earlier in September 2015, Prime Minister Narendra Modi during his US visit had announced the launch of the fund at the 'Startup Konnect' event in California.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%