HYDERABAD: The State’s startup ecosystem on Saturday appreciated the Central government’s decision to defer payments on Employee Stock Ownership Plan (ESOP) and for allocating seed fund for early-stage startups. Leaders in the area had earlier relayed their wish for some sort of funding mechanisms for early-stage startups, as many cannot sustain due to lack of funds.
Deepthi Ravula, CEO of We Hub said, "A lot of early-stage startups never make it to the next stage and most of them for a lack of funding do not get to create a prototype even. So seed fund for early-stage startups is a welcome move to enable more innovators to become entrepreneurs and should see a major uptick in the number of product-based startups."