New Delhi, Apr 29 (PTI) The Young Entrepreneur's Association (YEA) on Monday announced the launch of a Rs 50 crore fund in collaboration with Magnifiq Capital Trust and Thyrocare for Indian startups.

YEA and Magnifiq Capital Trust partnered with Thyrocare founder A Velumani and have announced an investment of up to Rs 50 crore in Indian startups, YEA said in a release, adding that the startups will be handpicked and mentored by Velumani.

Also Read | When Is Maharashtra Day 2024? Know About Maharashtra Din Date, History, Celebrations and Significance.

The announcement was made at YEA's Annual General Meeting held on April 27, 2024.

Innovative companies that are in seed-stages are encouraged to apply at info@yeaindia.org, where applicants shall undergo thorough review, ensuring a fair process of selection for the recipients of the funds.

Also Read | Ayushman Bharat Diwas 2024 Date, History and Significance: Know All About the Day That Promotes Ayushman Bharat Yojana.

YEA is a community of innovators and business leaders that work to foster an environment of growth, mentorship, and collaboration. It also empowers leaders through strategic funding and mentorship.

Thyrocare Technologies Ltd is an Indian multinational chain of diagnostic and preventive care laboratories.

Magnifiq Capital Trust is a Venture Capital Fund focused on supporting early-stage startups with high growth potential.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)