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DPIIT to hold meeting with startups on Mar 1 on ways to increase flow of funds

DPIIT to hold meeting with startups on Mar 1 on ways to increase flow of funds

New Delhi, Feb 19 (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) will hold consultations with startups on March 1 here to discuss ways to augment flow of funds to new businesses, a top government official said Tuesday. DPIIT Secretary Ramesh Abhishek said still there are several things which need to be looked upon for strengthening the startup ecosystem in the country. "We would discuss how to augment more flow of fund into startups and if there are any regulations or laws that need to be changed to augment that flow. We would like to talk that," he told reporters here. There is a concept of accredited investors in some countries and "we also need to work on that," he said. "We are also going to see how angel investments can be incentivised in the country. Many countries are providing tax and other incentives to angel investments into startups," he said. The department will consider measures related to these issues, he said. PTI RR RVKRVK