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Marwari Catalyst Backed Start-ups Raise INR 1.5 Cr from Government Initiatives

Opportunity India Desk
Opportunity India Desk Jul 18 2022 - 2 min read
Marwari Catalyst Backed Start-ups Raise INR 1.5 Cr from Government Initiatives
The Government of Rajasthan has provided platforms for start-ups along with state of art incubation space, capacity building workshops and mentorship support.

Start-up accelerator Marwati Catalysts, Mcats, announced that start-ups from its portfolio have raised INR 1.5 Cr from Union and State Government schemes. The company is known to enable start-ups for the funding by providing them with appropriate training, skills and mentoring services. It also claims to bridge gaps between investors and start-ups by giving them a platform to connect.

Over the last few years, India has emerged as the world's third largest start-up ecosystem, aspiring to be the number one. The start-up industry has expanded with the goal of making entrepreneurship a popular career choice for young people. As of June 30th, there were 72,993 start-ups recognised by Department for Promotion of Industry and Internal Trade (DPIIT).

In India, both the state and union governments are taking steps to develop a dynamic and collaborative ecosystem that facilitates the easy availability of work-spaces, money, applicable technology, skilling and mentoring support, and access to high-leverage markets.

Marwari Catalyst is actively involved in the state's flagship initiative, iStart Rajasthan, which is run by the Department of Information Technology and Communications (DoIT&C). It promotes innovation, creates jobs, and makes investment easier. Since August 2021, iStart Rajasthan has authorised over 1700 enterprises, creating over 20,000 job opportunities and funding over 300 firms with a value of INR 9.5 Cr. In Jodhpur, Marwari Catalysts, in collaboration with iStart, plans to play a democratising and enabling role in entrepreneurship support.

Mcats commented on the news and said that it all happened due to continuous support by government. The Government of Rajasthan has provided platforms for start-ups along with state of art incubation space, capacity building workshops and mentorship support. The initiative of creating Incubation Cells at District Level, iStart Nest at Divisional level and the Techno Hub at Jaipur will help start-ups.

Sushil Sharma, Founder and CEO, Marwari Catalysts said, “India is at the right stage for startups, and MCats as an accelerator has always made its efforts towards providing an efficient platform to translate early stage startups into market-ready products. Today this latest funding gives a strong validation to our startups from the government and with such state and central government startup initiatives, it will definitely accelerate the growth trajectory of our startup ecosystem in near future.” 

 

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