AIFs Push for Dedicated Funding in Sunrise Industries

Alternate Investment Funds (AIFs) are lobbying the government for funds dedicated to new-age, deep-tech startups to foster innovation. They also urge expanding the Fund of Funds for Startups (FFS) scheme. This call to action emerged from discussions between AIFs and the Department for Promotion of Industry and Internal Trade.

Alternate Investment Funds (AIFs) have made a strong appeal to the government, seeking allocations for investments focused on new-age and deep-tech startups, aiming to catalyze innovation within the nation, confirmed an official source.

During a recent meeting with officials from the Department for Promotion of Industry and Internal Trade (DPIIT), AIFs pressed for an increase in funds under the existing Fund of Funds for Startups (FFS) initiative. This scheme, since its inception in 2016, has been pivotal in providing the essential financial boost needed by startups.

The dialogue also touched upon facilitating capital flows into smaller cities and extending the lifecycle of the FFS beyond its current 12-year span. The AIFs argue for specialized funds to uplift sectors defined by contemporary technologies.

(With inputs from agencies.)