India encourages young people to set up a 1.6 billion U.S. dollar fund

As part of its 2014 budget, India has launched a fund of 100 billion rupees (about 1.6 billion U.S. dollars) to support start-ups. The fund will primarily provide capital through venture capital funds, quasi-equity, low-interest loans and other venture capital, specifically to encourage young people to start-up and grow. However, it is not yet clear how the government will pay for the fund. The move coincided with a booming entrepreneurial enthusiasm among startups in India, which has become known as "Silicon Valley in India" and now Pune is also attracting startups and IT talent, including first-class data software company Druva and telecom hardware company Swipe.

TechHub, a tech entrepreneur and entrepreneurial space community based in London, recently announced plans to open its first center in India seeking to reach India "before reaching out to the UK and other European cities," expected to reach 100 billion U.S. dollars Technology industry "market. Late last year, Facebook implemented its first acquisition in India, acquiring Little Eye Labs, a mobile applications crash testing service in Bangalore, for about $ 10-15 million.

India's entrepreneurial incubator GSF India founder Rajesh Sawhney said India can provide the world's most advanced technologies and services. In 2012, GSF India partnered with US 500 Startups and Europe's Seedcamp to launch an accelerator program to identify India's top start-ups. Founded in 2010, the 500 Startups is an early seed fund and incubator for businesses in Mountain View, Silicon Valley, USA. Seedcamp, Europe's oldest and largest technology incubator, has hatched hundreds of startups.

The establishment of the fund is an initiative of the Indian government to promote the development of start-up companies. It is an encouragement to start-ups through practical actions. It will also give confidence to potential investors and let them see that the government is nurturing start-ups. (Tianmenshan)