Scheme Name: Funds for Fund

State: Odisha

Description of the Scheme: Avail monetary benefits, one of selection criteria is being funded through an angel network recognised by Startup Odisha initiative

Target group :

Sector of the Scheme:

Eligibility Criteria:

Nature & Mode of Assistance: To Foster Entrepreneurship & Promote Innovation, MSME Department has released a ?Fund Of Funds? Scheme With Startup Odisha as the Implementing Agency. This Scheme Is Dedicated To Focus On The Capital Investment Requirement Of Startup?s During Their Seed Stage. Looking At The Essentiality Of Venture Capital & Angel Fund For Registered Startup, The Fund Of Funds With A Target Corpus of Rs 100Crore will Be Disbursed Over 5 Years To Support 1000 Startup?s In The State. SEBI registered category 1 and 2 investment funds/Angel funds will be selected as partner funds by startup Odisha, however the decision to invest is left to the partners. The scheme money is to be invested in selected funds with an agreement of minimum availability at 1 : 1 ratio to the state registered startups within 5 years. The scheme budget to be drawn from the treasury and shall be utilized as grants periodically. Similarly, the returns from these to be reinvested in strengthening the ecosystem.

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply:

Whom to Contact:

Micro, Small & Medium Enterprises Department, Odisha State Secretariat,

Sachivalaya Marg, Bhubaneswar - 751001.

Contact No: 674 2394121,2393055 (office), 2550 (EPABX),

674 2394051 (Fax)