India's Modi Launches $15. Billion Fund for Startups - Fortune: "However, the push by Modi’s government is the first time Indian policymakers have announced an agenda directly aimed at promoting start-ups and entrepreneurship.
Modi unveiled plans for a new 100 billion rupee fund: a structured fund of funds that will invest in venture capital funds over a period of four years, financed by the government and the state-owned Life Insurance Corp.(LIC).
He also said start-up companies would benefit from cheaper and faster patent applications, enjoying 80% rebates on the cost of patents. A mobile app would allow companies to be set up within a day, he promised."
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Tuesday, July 5, 2016
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