State Govt setting up Rs 200 Cr fund to boost startups in Bengal

The West Bengal Government will create a Rs 200 crore fund to encourage the setting up of startups in Bengal. Currently, there are 21 institutes across the state that train the young generation to start their own businesses. These not only teach about different types of startup businesses but also rope in prominent industrialists from the state to teach the nitty-gritties of business. With respect to funding, there are four banks that have come forward to provide financial assistance to new ventures.

Now, the State Government has also decided to create a fund worth Rs 200 crore. Any startup showing good potential will be given financial assistance up to Rs10 lakh. Some interesting startups are already in the government’s focus as they have shown the potential to create new employment in the state. During the 2017 Bengal Global Business Summit, held on January 20 and 21, the startup business in Bengal had been declared an area of potential growth.