NE BUSINESS BUREAU
NEW DELHI, AUG 14
Leading stock exchange BSE on Friday said it has joined hands with iHub, an incubation setup established by the Gujarat government, to encourage and support startups in raising capital.
Launch of @BSEIndia and @ihubgujarat Partnership on 14th August, 2020https://t.co/5EWQ5yygHG
— BSE India (@BSEIndia) August 14, 2020
Besides, the exchange will offer multiple benefits in terms of gaining visibility, branding, credibility and unlocking the value, BSE said in a statement.
The exchange has signed a Memorandum of Understanding (MoU) with Gujarat Student Startup and Innovation Hub (i-Hub) in this regard.
i-HUB, a vibrant incubation set-up, established under student startup innovation policy by Gujarat government education department and is focused on developing startups as the catalyzers for economic growth in the state thereby providing a conducive ecosystem for promoting their growth.
“One of the challenges startups face is the limited access to finance, which increases their dependence on debt capital resulting in distorted capital structures and stifled cash flows,” said Ashishkumar Chauhan, MD and CEO of the BSE.
“Through this association with i-HUB, (government of Gujarat) we believe we can offer a favourable ecosystem for the startups to raise capital and succeed,” he added.
Ajay Thakur, head of BSE SME and startups, said the association will help the startup in the state of Gujarat to grow and create employment.
“We are committed to working towards the development of the student startups and the collaboration with BSE will further help the startups to raise the capital from the dedicated startup platform of the BSE,” said Anju Sharma, IAS (Principal Secretary, Higher and Technical Education Department and Chairperson i-Hub).
