CURRENT AFFAIRS : BANKING & FINANCE
SIDBI Accelerator Fund to be set up at IIM Ahmedabad’s Centre for Innovation, Incubation & Entrepreneurship startup incubator
- The Small Industries Development Bank of India (SIDBI), the principal financial institution for Micro, Small and Medium Enterprises (MSMEs) in the country, announced its partnership with the Indian Institute of Management, Ahmedabad’s (IIM-A) startup incubator Centre for Innovation, Incubation & Entrepreneurship (CIIE) to set up a SIDBI Accelerator Fund at the incubator with an initial corpus of Rs 20 crores.
Aim:
- To promote Deep Tech and science-led Innovation by facilitating access to seed capital.
- The programme focuses on supporting startups with meritorious ideas and technologies important for India’s goals for 2047 to become self-reliant as well as a dominant player in high quality/ high entry barrier products/services.
