Karnataka introduces $1.5m women-focused fund

The government fund will focus on women entrepreneurs, providing proof of concept capital.

The government of Indian state Karnataka has launched a Rs100m ($1.5m) proof of concept fund aimed at women entrepreneurs, according to the Economic Times.

The fund will be administered by the Department of Information Technology, Biotechnology and Science and Technology. It will make individual investments of up to Rs100,000.

The fund forms part of the government’s Idea2POC initiative, which already counts three other proof of concept funds: a Rs100m fund aimed at technology, a Rs25m fund aimed at agriculture and a Rs25m fund focused on the tourism sector.

Additionally, the government will organise an open house for women entrepreneurs to meet and interact with government officials to present their ideas and issues.

See more from this Government Report: India

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