The government last week announced a Rs 5,500-crore ‘India Inclusive Innovation Fund’ will focus on generating employment and supporting livelihoods across the country through innovative enterprises.

“My Ministry is working towards creating a fund, to be called the India Inclusive Innovation Fund, which will help Indian enterprises in developing innovative solutions to developmental challenges,” Minister of State (MoS) in Ministry of Micro, Small and Medium Enterprises (MSME) K H Muniyappa said in an Assocham event.

The Fund will be guided by four objectives, to focus on the poor; to combine social and commercial returns; to drive employment and livelihood generation; and to help establish a model for wider inclusive innovation funding, he said.

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