Reliance Industries Ltd (RIL) chairman Mukesh Ambani on Thursday announced that the company is setting up a Rs.5,000 crore fund—Jio Digital India Startup Fund—to invest in digital businesses. For this purpose, we have created a Jio Digital India Startup Fund,” Ambani said. The announcement shows a growing trend of Indian corporates becoming more willing to invest in start-ups, said experts. Their setting aside Rs.5,000 crore for investing in start-ups is a testament to the Indian start-up ecosystem having arrived,” said Rajan Mehra, co-founder and managing director, Nirvana Venture Advisors. The company will invest $250 million in Indian start-ups through the Innovate in India Fund.

Source: Mint September 01, 2016 22:18 UTC