Question

What are the functions of funding agencies for entrepreneurship

Answer 1

The Government of India has undertaken several initiatives and instituted policy measures to foster a culture of innovation and entrepreneurship in the country. Job creation is a foremost challenge facing India. With a significant and unique demographic advantage, India, however, has immense potential to innovate, raise entrepreneurs and create jobs for the benefit of the nation and the world.

Answer 2

The functions of funding agencies for entrepreneurship are:

• Identify the new entrepreneurs and providing them with all the help and assistance.

• Providing financial assistance in regards to capital for buying equipment, working capital and other facilities for the new entrepreneurs.

• Empowering the women by providing exclusive women’s funds for them.

• Offering a large range of loans for different financial needs like buying land for agricultural projects.

Explanation:

• The funding agencies help entrepreneurs and startups with various forms of support. There is various form of agencies which are government and non-government ones that help and support the entrepreneurs.  

• The different agencies are the Department of Trade and Industry, National Empowerment Fund, National Youth Development Agency, Industrial Development Corporation and many other forms of agencies.