200 Cr VC Fund for SC Entrepreneurs; to fund upto 75 percent of small projects

摘要

To give a fillip to Prime Minister Modi's start-up India campaign, a Venture Capital (VC) Fund has been launched targeting Schedule Casts (SC) entrepreneurs. For projects uptoRs 5 Crore, the fund will provide financial assistance maximum upto 75% of the project cost and the balance 25% of the project cost will be funded by the promoters. For projects above Rs. 5 Crore the investment shall be limited to maximum 50% of the project cost and at least 25% of the project cost has to be financed by bank/other institutions. Balance 25% of the project cost will be funded by the promoters.