The Department for Promotion of Industry and Internal Trade (DPIIT) will launch a dedicated digital collaboration platform for startups and investors to help them sign investment deals faster. DPIIT will launch the platform along with Small Industries Development Bank of India (SIDBI).
The online platform aims to facilitate funding requirements of budding entrepreneurs. With this portal, startups would not have to look for Alternate Investment Funds outside.
Shruti Singh, joint secretary, DPIIT, said, “This was approved in one of the national startup advisory council meetings. It is a match-making platform for startups and investors and it is in the final stages of closing. We will launch it in the next two months.”
She added, “There will be funds that will be online, and startups will easily be able to access the same…from the investor side, there will be alternative investment funds (AIFs) where they will mention the sectors they will be looking at and how much they are willing to invest.”
Depending on the sector and whether an AIF is looking at an early-stage or late-stage funding, that matchmaking will happen. After that, pitching would take place and then the funding actually happens.
