The Union Ministry of Micro, Small and Medium Enterprises (MSME) is working towards the creation of an ‘India Inclusive Innovation Fund’ to cater to the credit requirements of the bottom of the pyramid MSMEs, stated Mr Vivek Rae, Secretary, Union Ministry of MSME, while inaugurating the CII Conclave on ‘Credit and Finance for MSMEs,’ in New Delhi, on 25 January 2013. This ` 5000 crore fund, stated Mr Rae, would begin with a corpus of ` 500 crore, of which the Government would put in ` 100 crore, while the balance would be contributed by banks and financial institutions. The scheme, which would be operationalized within three months, would take equity stake in companies at the bottom of the pyramid and promote venture capital among MSMEs.