1 hr ago

IIT Indore Foundation, IFCI Venture Sign Startup Support MoU

IITI DRISHTI CPS Foundation and IFCI Venture have agreed to work together to help some startups.

Startups are new businesses, often built around an idea or technology.

The partners will explore ways to help these businesses prepare for investment and meet investors.

They will also look at funding programmes and ways to connect new technologies with customers and industries.

Other possible support includes business pitching and training.

The agreement does not promise that any startup will receive money.

Each opportunity must meet the relevant rules and pass checks.

The goal is to help useful ideas move from development toward wider use.

Key facts

Agreement: Memorandum of Understanding between IITI DRISHTI CPS Foundation and IFCI Venture Capital Funds Limited.
Focus areas: Startup identification, funding readiness, investor connections, pitching, capacity building, industry linkages and technology commercialisation.
Potential initiatives: VCF-SC, VCF-BC, SAGE Venture Fund and ASIIM.
Conditions: Any funding or investment is subject to scheme guidelines, eligibility, due diligence, fund availability and approvals.
DRISHTI support: The foundation is a Section 8 not-for-profit organisation and Technology Translation Research Park under NM-ICPS, supported by the Department of Science and Technology.
IFCI Venture: A subsidiary of IFCI Limited and a Government of India undertaking that manages venture capital funds.

freepressjournal.in · 1 hr ago