The main objective of NFSIT is to meet the total fund requirements of the software and IT companies, particularly Small Enterprises, to enable them to achieve rapid growth rates and maintain their competitive edge in domestic and international markets.
Rajasthan Venture Capital Fund (RVCF) has infused capital into SoftTech Engineers Pvt. Ltd.
Rajasthan Venture Capital Fund (RVCF) operates from Jaipur and focuses on investments on a pan India basis. They aim to selectively invest in companies operating in high growth sectors and create value for all stakeholders. The companies that are capital efficient, can scale rapidly and are early movers, generate interest from RVCF.
SoftTech is venture funded by SIDBI Venture Capital Limited (SVCL). SIDBI Venture Capital Limited (SVCL) is a wholly owned subsidiary of SIDBI, incorporated in July 1999 to act as an umbrella organization to oversee the Venture Capital operation of SIDBI. SVCL manages the various Venture Capital Funds launched/ being launched by SIDBI.
SVCL manages the National Venture Fund for Software and Information Technology Industry (NFSIT) set up by Small Industries Development Bank of India (SIDBI) in association with Ministry of Information Technology (MIT), Govt. of India and IDBI (Industrial Development Bank of India).
In fresh round of funding SIDBI has under its “Direct Risk Capital Scheme” has granted unsecured loan to the company for developing and providing comprehensive software solutions.
Government of India has taken initiative for development and application of indigenous technology in a dynamic economic environment and speedy globalization era by establishing TDB and is giving financial assistance to the SME units involved in the development and application of indigenous technology at very nominal rate of simple interest.
The Government of India constituted the Technology Development Board (TDB) in September 1996, as per the provisions of the Technology Development Board Act, 1995.
The mandate of the TDB is to provide financial assistance to the industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology for wider domestic application.
After technical studies and evaluation of the project, Technology Development Board have approved funds for financial assistance for the company’s project “Development and commercialization of products- AutoDCR and Opticon”