New Delhi: Haryana Industries and Commerce Department and SIDBI Venture Capital Ltd. (SVCL) on Friday signed a contribution agreement (CA) for capital commitment of Rs 100 crore to Atmanirbhar Startup Venture Fund.
During the interaction with startups and prominent industrialists in September, Chief Minister Nayab Singh Saini had reaffirmed the state government's commitment to providing comprehensive support and a robust platform for startups, with a vision of positioning Haryana as a global hub for innovation and scripting a new chapter of prosperity through entrepreneurship, said an official statement.
In line with this vision, the contribution agreement was signed by Dr. Amit Kumar Agrawal, commissioner and secretary, industries and commerce department, on behalf of the Haryana government, and Arup Kumar, Managing Director and CEO, on behalf of SIDBI Venture Capital Ltd. (SVCL).
This initiative is in line with the government of Haryana's budget announcement to create a dedicated venture capital fund to promote entrepreneurship and support youth in establishing start-ups, providing financial assistance and developing market linkages.
The fund targets scalable, sustainable start-ups across diverse sectors, including AI, health-tech, agri-tech, clean energy, and more.
It supports market access, business growth, and tech adoption while encouraging private-sector participation and institutional investment for start-ups in Haryana, the statement said.
This partnership marks a significant milestone in Haryana's journey to becoming a leading hub for innovation and entrepreneurship, and reflects the government's commitment to building a vibrant start-up ecosystem in the state, it added.
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