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Maharashtra to launch ₹200cr start-up fund focusing on women entrepreneurs
June 14, 2022
Maharashtra will launch a ₹200-crore fund to invest in deep tech startups from the state, which are preferably led by women and socially relevant, a senior official said on Friday.
The “Maharashtra Innovation and Technological Development Fund” will be a 200 crore corpus for early-stage startups in the state, Manisha Verma, the principal secretary for skills, employment, entrepreneurship and innovation department, said while addressing a Tiecon event here.
“The fund will have a special focus on deep/tech, women-led businesses and socially relevant startups,” she said in her presentation at the annual summit.
Verma said the state is also mulling to launch a seed fund for startups, but did not share details of the same.
The state already has a slew of vehicles to make equity investments in startups, which have been launched in association with finance players having domain expertise, she added.
These include the ₹120-crore Maharashtra Social Venture Fund, managed by the Small Industries Development Bank of India (Sidbi), ₹330-crore Maharashtra State Defence and Aerospace Fund and ₹80-crore fund for entrepreneurs hailing from marginalised communities –managed by IDBI Capital, she said.
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