CSIR set to launch Rs. 400-crore startup fund

The Council of Scientific and Industrial Research (CSIR) is in the process of setting up an innovation fund, worth Rs. 400-500 crore, to invest in early stage startups and prod innovation, a senior official told The Hindu. “The proposal has been cleared in-principle by the Prime Minister,” Girish Sahni, Director-General, CSIR, toldThe Hindu. “We will be using a portion of our own funds for this,” he added.

The 75-year-old organisation — India’s largest patentee and publisher of research papers — is also grappling with a crisis of trying to generate more revenues from its portfolio of inventions as well encourage its staff scientists to become entrepreneurs and start companies of their own.

Read the full article in The Hindu