- The government is gearing up to unveil a new policy for promoting startups in January 2016 with an eye on boosting innovation, entrepreneurship and creating new jobs.
- The policy would bolster and complement the other initiatives already launched to promote new enterprises such as the Mudra scheme, short for Micro Units Development and Refinance Agency.
- Finance Minister Arun Jaitley had launched the India Aspiration Fund, set up under the Small Industries Development Bank of India or SIDBI
- Nearly 90 per cent of the venture capital in Indian startups is coming from overseas. We are trying to create a domestic VC industry and the Rs.2,000 crore allotted from this fund would enable seed funding for entrepreneurs and innovators
(Source URL: http://www.thehindu.com/todays-paper/tp-business/startup-policy-in-new-year/article7955973.ece)