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Venture Capital Funds

Entrepreneurship development has been given due importance in the IT Policy through formation of Venture Capital Funds. The Government of West Bengal had announced the setting up a Venture Capital Fund with a corpus of Rs. 25 crores.

West Bengal Industrial Development Corporation Ltd. (WBIDC) and WEBEL joined hands and have contributed Rs. 5 (five) crores each to this Trust Fund. An Asset Management Company, West Bengal Asset Management Company Ltd, has been formed to manage the Fund and has already received several applications for funding projects in IT services, IT Enabled Services and creation of Portal Sites. To date 6 projects have been sanctioned and funds have been allocated.

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