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Startups to be financed by EDC

Considering the success of tech startups in and around the country, the Economic Development Corporation or EDC as we famously call it, are looking to promote the startup culture by providing financial support and incentives. They are currently working on a proposal to create a financial model for startups in Goa.

Addressing the media, EDC chairman, Siddharth Kunkolienkar explained that startups being risky, while providing financial assistance, the corporation will have to ensure its safety as it will be investing the Governments money. In the past, they have sanctioned loans amounting to almost Rs. 60 lakhs to 80 entrepreneurs under the Chief Minister’s Rojgar Yojana (CMRY).

A ray of hope now for the people of Goa to set up businesses and fulfill their dreams.

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