Know The Schemes Of Government Funding For Startups In India – Technology News

With the increasing number of startups in India, efforts are being made by the government to provide the necessary support for their growth and expansion.  If you are an entrepreneur, seeking funds to manage and grow your startup, know the following schemes of Government funding for Startups in India.  

According to Technology News, These are the following schemes for Government Funding for Startups in India.

     1.    Credit Guarantee Scheme (CGS)

One of the most popular Government funding for Startups in India, CGS offers collateral-free credit to micro-industries and business startups. This scheme covers low-interest rates with a maximum cover of 100 lakhs. As covered in Technology News, CGS runs under SIDBI (Small Industries Development Bank of India) which caters to strengthen and rehabilitate small businesses.

      2.    MUDRA Loan Scheme

Another example of Government Funding for startups in India is Micro Units Development and Refinance Agency Loan Scheme or MUDRA which provide funds to micro-units of small businesses. This scheme also offers a collateral-free line of credit. According to Technology News, These loans are designed according to the particular stage of business and funding needs of the loan seeker.

      3.    Stand up India Scheme

This particular Government Funding for Startups in India offers loans between Rs 10 lakhs to 1 crore to the manufacturing or services sector While Technology News also mentions - This scheme is launched to empower women entrepreneurs from backward castes like SC/ST.

     4.    Bank Credit Facilitation Scheme

This Government funding for Startups in India scheme is launched by NSIC to fund MSMEs in India. According to Technology News, The credit repayment period depends on the generation of income. It extends a repayment period of up to 11 years.

These are some of the Government Funding for Startups in India. According to Technology News, numerous startups eyes on Angel Investment and Venture Capital for their growth and expansion. If you are an entrepreneur looking for Government Funding, these above schemes can certainly help you.

Upcoming Startups In India - The Backbone Of India’s Future.

India faced serious unemployment problems in the past years. Upcoming startups in India are putting a ray of hope in creating new job opportunities for the Indian unemployed population. According to Technology News Today, An estimate of 2.3 million jobs will be created within the next 5 years. Currently, Technology Startups are leading the Startup era with a consolidated growth rate of 11-12% every year. The next big shift is for the retail sector with an expected growth rate of 5o% over a period of 5 years.

Venture Capital and Angel investments are benefitting the Indian economy in terms of growth of Upcoming Startups in India. Firms go through multiple rounds of series funding which is helping them to hire best talents in the country. According to Technology News today, Mergers and Acquisitions are helping companies to expand their market share by acquiring new capabilities. The best example comes from the acquisition of “Whatsapp” by the social network giant “Facebook”. Apart from tech startups, Educational tech startups are also booming on the edge with digitization in the near future. One such example is BYJu learning app.

With the growing popularity of the Internet revolution, India is the 2^nd largest smartphone market after the United States. The use of online mobile transactions is increasing rapidly. Major startups like Paytm, Freecharge, etc are covering the market exponentially. While upcoming startups in India are eyeing over the competition, This seems to emerge as an opportunity for entrepreneurs to cover the market in this domain. According to Technology News Today, there are emerging opportunities coming up in the domains of Big Data Analytics, Machine Learning, Healthcare, AR/VR, Education, IoT, and Blockchain Technologies

India is the home to more than 4000 startups to date. While more upcoming startups in India are geared up to face the rising competition and putting their ideas to work for the future. The rapid growth of Startups in India has led to forming the backbone of the Indian economy.