Encouraging the innovation ecosystem in the country, finance minister P. Chidambaram in his Budget speech on Thursday said that funds provided by the corporates to academic incubators will qualify as part of the corporate social responsibility.
This move by the finance minister will enable incubators to have access to a wider pool of funds. These incubators set up in engineering colleges like the IITs, NITs and other institutes like IIIT-Hyderabad are largely dependent on the government funds to invest in start-ups that are incubated at these centres.
To read the full, original article click on this link: Budget 2013: Angels get wings, startups boost | Deccan Chronicle
