AHMEDABAD: Gujarat College Begin-up and Entrepreneurship Council (GUSEC) has arrange a seed fund for start-ups value Rs 10 crore. The quantity was sanctioned to GUSEC by the Nationwide Science and Expertise Entrepreneurship Improvement Board (NSTEDB) – an autonomous board underneath Division of Science and Expertise, Authorities of India. The fund was sanctioned as a part of the NIDHI Seed Help System (SSS) scheme. This fund will allow GUSEC to spend money on start-ups underneath its ambit to assist them scale higher.

“Over the past 4 years since we began working in the direction of selling and nurturing entrepreneurship and innovation, we have now believed that entry to capital is without doubt one of the largest challenges for start-ups in Gujarat. With help of assorted businesses and companions, we have now been in a position to handle this hole to an extent, however utilizing this newest help from NSTEDB underneath DST, GUSEC will be capable of immediately make investments into start-ups, which is a vital and noteworthy growth for the start-up ecosystem of Gujarat,” mentioned Prof Himanshu Pandya, vice chancellor, Gujarat College, who can be the ex-officio Chairperson of GUSEC.

The seed fund will likely be deployed over three years into start-ups throughout the GUSEC community and incubation applications. The typical ticket measurement per start-up can be roughly Rs 25 lakhs per funding.

“A fund like this and of this measurement will assist us make investments into deserving start-ups and chart out a sustainability plan permitting the success of start-ups to additionally convert into success of GUSEC. Up till now we have now been facilitating grants from varied associate businesses for our start-ups, however the inflow of this capital would permit GUSEC to rake in fairness in start-ups,” mentioned Rahul Bhagchandani, group CEO, GUSEC.

Since inception, GUSEC has supported over 234 start-ups, which have created over 666 jobs in addition to over ₹14 crore in income.

“Over the past 4 years since we began working in the direction of selling and nurturing entrepreneurship and innovation, we have now believed that entry to capital is without doubt one of the largest challenges for start-ups in Gujarat. With help of assorted businesses and companions, we have now been in a position to handle this hole to an extent, however utilizing this newest help from NSTEDB underneath DST, GUSEC will be capable of immediately make investments into start-ups, which is a vital and noteworthy growth for the start-up ecosystem of Gujarat,” mentioned Prof Himanshu Pandya, vice chancellor, Gujarat College, who can be the ex-officio Chairperson of GUSEC.

The seed fund will likely be deployed over three years into start-ups throughout the GUSEC community and incubation applications. The typical ticket measurement per start-up can be roughly Rs 25 lakhs per funding.

“A fund like this and of this measurement will assist us make investments into deserving start-ups and chart out a sustainability plan permitting the success of start-ups to additionally convert into success of GUSEC. Up till now we have now been facilitating grants from varied associate businesses for our start-ups, however the inflow of this capital would permit GUSEC to rake in fairness in start-ups,” mentioned Rahul Bhagchandani, group CEO, GUSEC.

Since inception, GUSEC has supported over 234 start-ups, which have created over 666 jobs in addition to over ₹14 crore in income.

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.(tagsToTranslate)GUSEC updates(t)GUSEC news(t)GUSEC newest news(t)GUSEC(t)Gujarat College Begin-up and Entrepreneurship



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