BizAmp

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• Secretary, the Ministry of MSME presided over BizAmp, an outreach programme organized by the Ministry of MSME.
• It was organized in association with NSIC Venture Capital Fund Limited (NVCFL) under its Self Reliant India (SRI) Fund.

Aim:

• The programme, aimed at empowering MSMEs from the North Eastern States and amplifying their businesses utilizing benefits under SRI Fund.
• BizAmp is the first outreach programme in the North East Region of the country focused upon maximizing capital benefits.
• It served to provide a platform for the empaneled daughter funds of SRI Fund to reach the MSMEs in the NE Region of India.

SRI Fund:

• The Government of India, launched SRI Fund with an outlay corpus of Rs 10,006 crore.
• It is concentrated towards financing an infusion of capital to MSMEs through Daughter Funds.
• Daughter funds works with Venture capitalist to create funds.
• It provides risk capital to companies developing new technologies.
• The SRI fund is an Alternative Investment Fund (AIF) providing growth capital to MSMEs through equity/quasi-equity/equity-like structured instruments.

SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB