The Ludhiana district administration has signed a memorandum of understanding under the Future Tycoons programme with the Chamber of Industrial and Commercial Undertakings (CICU), Ludhiana Angel Network and Innovation Mission Punjab. The agreement, formalised on Thursday, secures seed capital amounting to ₹13.10 crore.
Of this total, ₹10 crore has been pledged by CICU, ₹3 crore by Ludhiana Angel Network and ₹10 lakh by Innovation Mission Punjab.
“The programme has been launched in association with Innovation Mission Punjab and Start Up Punjab under the aegis of the Bhagwant Singh Mann-led government of Punjab,” stated an official release.
Deputy Commissioner Sakshi Sawhney, accompanied by MLA Madan Lal Bagga and other officials, extended an invitation to potential participants and stakeholders to join this promising initiative.
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