Chandigarh, October 24 – In a major initiative to strengthen entrepreneurship in the state, the Haryana Government and SIDBI Venture Capital Limited (SVCL), a wholly-owned subsidiary of the Small Industries Development Bank of India (SIDBI), today signed a Contribution Agreement (CA) committing ₹100 crore to the Self-Reliant Startup Venture Fund. The SEBI-registered Category-I Alternative Investment Fund (AIF) – Venture Capital Fund (VCF) is managed by SVCL and aims to raise a total corpus of ₹250 crore.
During a recent discussion in September 2025 with startups and leading industrialists, Haryana Chief Minister Shri Nayab Singh Saini reiterated the government’s commitment to providing strong and comprehensive support to startups in the state. He emphasized that the government aims to position Haryana as a global hub for innovation and entrepreneurship, creating a new chapter of prosperity through entrepreneurial initiatives.
The Contribution Agreement was signed by Dr. Amit Kumar Aggarwal, Commissioner & Secretary of Haryana’s Department of Industries & Commerce, on behalf of the state government, and Shri Arup Kumar, Managing Director & CEO of SVCL.
This initiative aligns with the state government’s budget announcement to encourage youth entrepreneurship by providing financial support and market access to startups. The fund will invest in scalable and sustainable startups across emerging sectors including Artificial Intelligence (AI), Health-Tech, Agri-Tech, and Clean Energy.
The primary objectives of the fund include enhancing market access, business development, technological innovation, and private sector participation, aimed at creating a robust, self-reliant, and dynamic startup ecosystem in Haryana.
Officials present at the signing included Shri Yash Garg, Director-General & Secretary, Department of Industries & Commerce, Haryana, and SVCL representatives – Shri Kiran Pujari, Assistant Vice President & Company Secretary, and Ms. Pragya S., Senior Investment Associate.
This partnership marks a significant milestone in Haryana’s journey to becoming a leading state in innovation and entrepreneurship, reflecting the government’s commitment to building a forward-looking and resilient startup ecosystem.
