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Venture Capital | 5 September 2011

TIFAC Launches Revolving Technology Fund For MSMEs

by Irfan Khan
TIFAC Launches Revolving Technology Fund For MSMEs
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Technology Information, Forecasting and Assessment Council(TIFAC) has set up a Rs30Cr 'Revolving Technology Innovation Fund' with SIDBI for funding MSMEs for development, up-scaling, demonstration and commercialization of innovative technology based projects. SIDBI will manage the fund on behalf of TIFAC.

The fund will provide capital asistance upto 80% of the total project cost, which should not be more than Rs1 Cr.

Funding Guidelines(Here)
Brochure(Here)

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Bangalore based holiday comparison site - Polama.com has raised Angel Funding from Blume Ventures and Rehan Yar Khan.

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Navayuga Plan To Sell Stake In Its Power Assets

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Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.

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