Prasad to launch Electronics Development Fund on Feb 15

The EDF will provide financial assistance to domestic companies in the field of electronics manufacturing and encourage innovation in the sector.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Tech Control
moneycontrol.com

Home » News » Economy

Feb 12, 2016, 05.30 PM | Source: PTI

Prasad to launch Electronics Development Fund on Feb 15

The EDF will provide financial assistance to domestic companies in the field of electronics manufacturing and encourage innovation in the sector.

Like this story, share it with millions of investors on M3

Prasad to launch Electronics Development Fund on Feb 15

The EDF will provide financial assistance to domestic companies in the field of electronics manufacturing and encourage innovation in the sector.

Post Your Comments

Share Cancel

Prasad to launch Electronics Development Fund on Feb 15
The Department of Electronics & IT (Deity) along with Canbank Venture Capital Fund will launch the Electronics Development Fund (EDF) on February 15.

The EDF will provide financial assistance to domestic companies in the field of electronics manufacturing and encourage innovation in the sector.

The EDF Policy was announced by Prime Minister Narendra Modi during the inauguration of Digital India Week on July 1 last year.

The government had appointed Canbank Venture Capital Fund Ltd (CVCFL) to house EDF on September 4, 2015.

"Department of Electronics & Information Technology and CVCFL will Launch Electronics Development Fund (EDF) on Monday in Mumbai," a statement from Communications and IT Ministry said.

The EDF is set up as a 'Fund of Funds' to participate in 'Daughter Funds' which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and IT.

Communications and IT Minister Ravi Shankar Prasad will formally announce the launch with handing over of the letter of commitment to the first group of Daughter Funds under EDF, the statement said.

The core focus of the Daughter Funds would be to develop domestic design capabilities.

The target beneficiaries of the EDF will be Daughter Funds (set up to achieve the objectives of the EDF policy) registered in India and abiding by the relevant rules and regulations including the SEBI regulations on Venture Funds.

The corpus of a Daughter Fund will be determined by market requirements and the capacity of its fund manager to cater to the requirements of the fund.

The Daughter Fund will also support acquisition of foreign companies and technologies for products imported in India in large volume.

Buy, Hold, Sell ? Hear it first on M3
Prasad to launch Electronics Development Fund on Feb 15

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login