The SPV will be headed by the Municipal Commissioner and will function independently. Representational Picture

The BMC is giving out-of-the-box business ideas a monetary boost, but not before ensuring it gets a piece of their profits too. After deciding on forming a Special Purpose Vehicle (SPV) to support them, BMC now has plans for taking a three per cent stake in these start-ups to ensure that the initial funding given to these businesses is not provided for free.