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The Himachal Pradesh state government will be providing funding of up to Rs 5 lakh per proposal to young entrepreneurs under the HIMUDA Start-up and Student Innovation Policy, to boost economic growth and to generate employment opportunities. This was stated by Town & Country Planning Minister Rajesh Dharmani while he chaired a review meeting of the Himachal Pradesh Housing and Urban Development Authority (HIMUDA) on Saturday. During the meeting, the minister said that the policy aims to build a strong ecosystem for innovation and start-ups in the state. "Keeping in view the geographical conditions of the state, the government was also exploring the possibility of funding start-ups related to disaster management under this policy", said Dharmani. He said that the projects of HIMUDA were aimed not only at meeting the housing needs of the people but also at creating new sources of revenue for the state. "Given the rapid pace of urbanisation, urban development has become a vital ...
The Rs 10,000 crore Fund of Funds 2.0 for startups will have an expanded scope, with the corpus divided into four segments, including dedicated support for deep-tech and manufacturing startups, according to a DPIIT notification. The second tranche of Fund of Funds was approved by the Cabinet in February. It is aimed at mobilising venture capital (VC) and support deep tech, tech-driven innovative manufacturing startups, and early-growth stage enterprises. The FoF 2.0 has been designed to continue the momentum of investments in startups, with an expanded scope over Fund of Funds Scheme (FFS 1.0). "Startup India Fund of Funds 2.0 will have an expanded scope with segmented approach to target key segments for real innovation," the notification by Department for Promotion of Industry and Internal Trade (DPIIT) said. The scheme will contribute to the corpus of SEBI-registered Alternative Investment Funds (AIFs) for investing in equity and equity-linked instruments of entities recognised a
Prime Minister Narendra Modi on Friday discussed the potential of harnessing artificial intelligence technology in various sectors like agriculture, environmental protection, and promoting higher education in mother tongue, among others, with CEOs of AI and deeptech startups. CEOs and founders of 16 AI and deeptech startups presented their ideas and work at a roundtable meeting with the prime minister. Modi underscored the need for strong data governance, cautioned against misinformation, and urged the development of solutions tailored to India's needs, said a statement from Prime Minister's Office. Referring to UPI as a model of simple and scalable digital innovation, he expressed confidence in Indian companies and encouraged trust in domestic products. He also spoke about expanding private participation in the space sector and noted strong investor interest in Indian startups. Modi discussed the potential of harnessing AI technology in various sectors like in agriculture and ...