Finance Minister Nirmala Sitharaman has announced another round of the Fund of Funds for Startups (FFS) scheme, with a corpus of Rs 10,000 crore. This initiative aims to promote the growth of emerging entrepreneurs and foster innovation across the country.
Also Read: Uttarakhand Govt Forms 6th State Finance Commission Under Ex-Chief Secretary N Ravishankar
This move is crucial as the government continues its push to support startups, with the Department for Promotion of Industry and Internal Trade (DPIIT) recognizing over 1.5 lakh startups to date. The FFS scheme, originally launched in 2016, is managed by DPIIT and operates through the Small Industries Development Bank of India (SIDBI). The scheme, with its substantial corpus, is designed to address the funding needs of startups at various stages—early, seed, and growth—and has played a pivotal role in encouraging domestic venture capital and reducing dependence on foreign funding.
The total corpus of Rs 10,000 crore will be provided in phases over the 14th and 15th Finance Commission cycles, depending on the scheme’s progress and availability of funds. The scheme not only facilitates access to capital but also drives the development of new homegrown venture funds, fostering a more robust startup ecosystem in India.
Also Read: Four Judicial Officers Appointed as Additional Judges of Telangana High Court
