Boosting Startups with Rs 10,000 Crore Fund of Funds Scheme

Finance Minister Nirmala Sitharaman announced a new round of the Fund of Funds for Startups scheme, boasting a corpus of Rs 10,000 crore, aimed at promoting growth and innovation among budding entrepreneurs. This initiative supports capital availability and fosters domestic investment.

Finance Minister Nirmala Sitharaman announced an additional Rs 10,000 crore under the Fund of Funds for Startups, marking a significant governmental effort to stimulate the entrepreneurial ecosystem.

This strategic move underscores the government's emphasis on fostering innovation through robust startup support, as recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).

Launched in 2016, the Fund of Funds initiative has been pivotal, facilitating early, seed, and growth stage investments, reducing reliance on foreign capital, and propelling home-grown venture funds.

(With inputs from agencies.)