Technology provider ACME Group will invest Rs 500 crore over five years to finance start-up entrepreneurs and innovators.
"ACME will invest Rs 500 crore over the next five years to support entrepreneurs under the initiative 'Idea Factory'," the company said in a statement.
The initiative will act as an incubator for innovators and entrepreneurs who can deliver unprecedented solutions with economic viability, it said.
According to PTI, ACME will invite technology based ideas across all sectors such as energy, IT, telecom and mobile applications.It will provide early stage capital along with full service office space and back office shared services as well as support in auxiliary services (Sales & Marketing, finance and Accounts, HR, IT & Legal).
The interested participants can submit their ideas at www.acmeideafactory.in.
"Idea Factory believes in the spirit of collaboration and aims to advance entrepreneurship following a partnership approach. The vision is to create an ideal environment for entrepreneurial growth, help build successful businesses and uplift the talent pool of the country," Founder and Chairman, ACME Group Manoj Kumar Upadhyay said in the statement.
The ACME Group is a player in energy management and innovative solutions for wireless telecom.
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