Bengal to start venture capital fund for start-ups

Kolkata, Jan 22 (IANS) The West Bengal government is working on a plan to set up a venture capital fund for budding entrepreneurs and start-ups through a government agency, a minister said here Thursday. “The idea is to encourage innovation and creativity among the local entrepreneurs. We are focusing on development of applications and solutions related to cloud computing and mobile value-added service and other cutting-edge technologies which will be backed by this venture capital fund,” Partha Chatterjee, minister for parliamentary affairs and education, said at a conference organised by Confederation of Indian Industries. He said incubation centres for start-ups will be set up in tier-2 and tier-3 cities.