Government Unveils Rs 10,000-Crore Fund for Startups, Emphasizing High-Tech Growth

The Indian government has launched a new Rs 10,000-crore Fund of Funds Scheme aimed at supporting startups in manufacturing and high-technology sectors. This initiative is part of the ongoing effort to bolster the country's entrepreneurial landscape by providing long-term capital and fostering innovation.

The Indian government's recently announced Rs 10,000-crore Fund of Funds Scheme (FFS) is set to support startups in manufacturing and high-tech sectors. The scheme, revealed as part of the Budget, aims to provide long-term funding necessary for growth and innovation, according to top officials.

Amardeep Singh Bhatia, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), stated that this new scheme will cater to startups that focus on cutting-edge technology and improving public services. Unlike previous efforts, the new fund promises longer-term investment and an expanded growth potential.

Parallelly, the government continues to explore options for FFS in deep tech startups, focusing on patient capital and larger investment sizes. Consultations with stakeholders for this purpose are ongoing, highlighting the administration's commitment to fostering a robust startup ecosystem.