New Delhi, March 13, 2025: The Small Industries Development Bank of India (SIDBI) has been applauded by The Indus Entrepreneurs (TiE) Mumbai for its outstanding contributions in nurturing and supporting the venture capital and startup ecosystem in the country. The recognition was conferred at TiEcon Mumbai 2025, India’s premier entrepreneurial leadership summit, held on March 12, 2025.

The award, which highlights SIDBI’s pivotal role in fostering India’s startup ecosystem and driving innovation, was conferred upon Shri Manoj Mittal, CMD, SIDBI.

It was received on behalf of SIDBI by Shri S.P. Singh, CGM, SIDBI, from the esteemed hands of Shri Narayana Murthy, co-founder of Infosys.

Since its inception in 1990, SIDBI has been at the forefront of developing the Venture Capital (VC) ecosystem in India, playing a crucial role in promoting innovation-led enterprises. Over the past three decades, SIDBI has consistently nurtured this segment through sustained funding from its own balance sheet, as well as pioneering ecosystem-building initiatives.

In the early 1990s, when India’s venture capital ecosystem was still in its infancy, SIDBI took the initiative to establish a dedicated venture capital department facilitating the emergence of startups across various states. In 1999, it set up its own asset management company, managing multiple sector-specific funds, including one of India’s first IT-focused venture funds. Over the years, SIDBI has launched funds catering to manufacturing, social ventures, exports etc, significantly contributing to the diversification of India’s funding landscape.

This recognition from TiE Mumbai underscores SIDBI’s relentless efforts in strengthening India’s venture capital and startup ecosystem, further solidifying its role as a key enabler of entrepreneurial success.

About SIDBI:

Since its formation in 1990, SIDBI acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities. SIDBI executes its mandate through Indirect Lending (based on multiplier effect/ larger reach in financing the MSME sector), Direct Lending (aims to fill the existing credit gaps in the MSME sector), Fund of Funds (boosts entrepreneurship culture by supporting emerging startups), Promotion and Development (promoting entrepreneurship and handholding budding entrepreneurs through credit-plus initiatives), Facilitator (playing a facilitator through roles like Nodal Agency for the MSME oriented schemes of the Government).