Establishment of National Innovation Promotion Board, enhancing domestic pool of capital for Startups, greater participation by banks in financing innovation and creating policy in this regard at their board level were some of the recommendations which emerged from the roundtable on ‘funding of innovation’ held in Rashtrapati Bhavan today (March 17, 2016) as part of the week-long Festival of Innovations.

Two panel discussions were held on (i) Financing options for funding innovations; and (ii) Strengthening the Startup ecosystem. The panels included Shri K K Jalan, Secretary, MSME; Shri Ashwini Kumar, Chairperson, IBA; Shri T M Bhasin, Vigilance Commissioner; Shri A P Hota, MD, NPCI; Ms. Bindu Dey, Secretary, Technology Development Board; Shri Vijay Sekhar Sharma, Founder Paytm; Shri Sharad Sharma, Ispirt and Dr. Saurabh Srivastava, Founder, Indian Angel Network. Dr. Kshatrapati Shivaji, CMD, SIDBI moderated the discussions and pointed out that the platform www.sidbistartupmitra.com launched by the President is unique and one of its kind, for it enables digital information flow among the players in the startup eco system and would also facilitate meaningful interaction and engagement in the areas of incubation services, funding, mentoring and networking activities.

This release issued 1810 hrs.