Lic, Epfo can fundup startup

New Delhi: When the government prepares a strategy to bring investors and startup on the general, LIC and Providential Fund Organization (EPFO) organization is among those who want to fundup.
This platform was turned on by Sidbi, which had managed funds for startup, with different CIC and EPFO ​​interest during the National Startup Advisory Board meeting chaired by trade and the Minister of Industry Piyush Goyus.
Anil Aggarwal, additional secretaries in the department for industrial promotion and internal trade, told TOI that the main focus field provided initial funding.
“India only has around 6,000 angel investors, while the US approaches three lakh.
We see regulatory issues and others to make the system stronger,” the officer said.
He said the government also took a program for guidance, an idea suggested by Softbank’s Manoj Kohli.
The idea is to regulate the technology platform through which there might be a suitable manufacture and the field can be expanded.
The movement occurred amid fresh ratification of the encouragement given to startup in government policy.
“The government is committed to cutting red ribbons, increasing the ease of doing business, providing financial assistance through startup seed funds, supporting incubators, increasing the skills and holistic approaches intended to solve problems related to capital mobilization, support innovation and innovation and capacity requirements Startup, “said Goyal at the meeting.