PANJIM: Close on the heels of a slew of incentives offered to
India’s startup industry, the State government’s Economic Development
Corporation (EDC) is planning to create a financial model to promote Goa’s
nascent startup ecosystem.
While
providing capital venture to entrepreneurs, EDC will also study the risk factor
involved to ensure security to the corporation’s finances.
Addressing
media persons, EDC Chairman Siddharath Kuncolienkar said that considering the
success of tech startups held earlier this year, the State wants to promote
startups by providing financial support and incentives. “We are working on a
proposal to create a financial model for startups in the State,” he said.
Kuncolienkar
said that startups being risky, EDC, while providing capital, will have to also
ensure its safety as it will invest government money. “The modalities are being
worked out,” he said.
Meanwhile,
during a recently held meeting, EDC sanctioned loans of almost Rs 60 lakh to 80
entrepreneurs under its
flagship Chief Minister’s Rojgar Yojana (CMRY).
