Monday, December 29, 2014: Union Communication and Information Technology Minister Ravi Shankar Prasad told that the centre would establish electronic development fund to back the start ups across the country. During his visit to the Startup Village at Kalamassery, he said that the centre has planned to come up with such fund in partnership with angel funds in order to promote entrepreneurship in the IT sector.
The fund will help in establishment of start ups across IT, electronics and manufacturing sectors. While expressing his views towards this move of state government, he said, “we need to replicate it.”
He further said, “As for the incentives, if 100 acres of land is made available – by the State Government or any other agency – for setting up manufacturing units, the Centre would provide funding up to Rs 500 million. Also, for every Rs 100 invested in a factory, the Central Government will invest Rs 25, in addition to the incentives given by the State.”
While talking about the ‘Digital India’ campaign he said that this attempt would bridge the gap between the digital haves and have-nots, thereby improving the complete profile of the company within next few years.
