The initiative provides for creating a credit guarantee fund for startups through National Guarantee Trust Company (NCGTC)/SIDBI with a Corpus of Rs.500 crore per year for the next four years.
With this Action Plan the Government hopes to accelerate spreading of the startup movement:
From digital/technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education, etc; and
From existing tier 1 cities to tier 2 and tier 3 cities including semi-urban and rural areas.
The Action Plan envisages setting up of 7 New Research Parks modeled on the Research Park at IIT Madras at IITs in Guwahati, Hyderabad, Kanpur, Kharagpur, Bangalore, Gandhinagar and Delhi and setting-up/scaling-up of 18 Technology Business Incubators (TBI) at NITs/IITs/IIMs etc. as per the funding model of DST.
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