Focus on start-ups from small cities: Piyush Goyal to venture funds

Global venture capital funds should focus more on start-ups from tier 2 and 3 cities, Commerce and Industry Minister Piyush Goyal said while chairing a roundtable with global venture capital funds on Friday.

The minister invited venture capitalists (VCs) to explore new sectors for investing, promoting, and protecting young Indian entrepreneurs’ intellectual property and urged them to provide expertise to scale up and explore greater capital infusion, including risk capital.

Goyal said the government had taken a number of steps to support start-ups and would continue to do so.

India is home to more than 61,000 recognised start-ups spread across 55 industries, with