Department of Electronics and Information Technology (DeitY)
IT Services, analytics, enterprise software, technology hardware, Internet of Things, AI, nanotechnology.
Startups pursuing innovation in technology sectors like electronics, IT, and nanoelectronics.
The agenda was envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve “Net Zero Imports” by 2020. The EDF will help attract venture funds, angel funds and seed funds towards R&D and innovation in the specified areas. It will help create a cell of Daughter funds and Fund Managers who will be seeking good startups (potential winners) and selecting them based on professional considerations.
The Electronic Development Fund (EDF) is set up as a “Fund of Funds” to participate in professionally-managed “Daughter Funds” which, in turn, will provide risk capital to companies developing new technologies. CANBANK Venture Capital Funds Ltd. (CVCFL) is the Fund Manager for EDF.