BizAmp

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

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