Development Bank coming soon for start-ups

Our Bureau Hyderabad | Updated on June 19, 2014

The Telangana Government is contemplating to set up a Technology Development Bank to fund start-ups. The bank would provide seed funding to technology start-ups. “We are actively considering a proposal. Also, we will soon come out with an Electronic Hardware Policy to attract investments into the sector. We have approved plans to set up two electronic manufacturing clusters near the international airport,” Telangana Minister for Information Technology K Taraka Rama Rao said.

Addressing the inaugural of the maiden India Gadget Expo, he said the Government would set up India’s biggest technology incubation centre. He added, the Centre could accommodate about 120 start-ups.

He said the Government would talk to software firms and engineering colleges in the State form consortia. JA Chowdary, Chairman of the Steering Council, has asked the new Government to set up common facilities for testing and validation for technology start-ups at the upcoming IT Investment Region (ITIR).

Published on June 19, 2014

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