SOURCE : NEW18 NEWS
Last Updated:April 06, 2025, 08:45 IST
Commerce and Industry Minister Piyush Goyal says the second Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore, has been approved and this year, and Rs 2,000 crore will be disbursed to SIDBI as the first installment.
Piyush Goyal urges SIDBI to establish at least one support centre in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs. (Photo Credits: Instagram)
Commerce and Industry Minister Piyush Goyal has announced the setting up of a helpline for budding entrepreneurs across India. The Startup India desk, to be accessible through a simple four-digit toll-free number in regional languages, will address greviances of the entrepreneurs.
Goyal also said the second Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore, has been approved and this year, and Rs 2,000 crore will be disbursed to SIDBI as the first installment.
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A significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation startups, he said on Saturday.
Through this fund, “we aim to foster the development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech,” he said, adding that through the desk, a startup can suggest steps to further improve the ecosystem and flag problems, if they are facing any.
The objective of the fund is to provide early-stage financial support to budding entrepreneurs who often face challenges in accessing traditional forms of capital.
The fund will especially focus on startups operating in cutting-edge domains such as artificial intelligence, machine learning, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, where long gestation periods and high capital requirements often pose hurdles.
capital, the government aims to build a strong pipeline of indigenous technology solutions that can address national priorities and position India as a global innovation leader, Goyal said.
Goyal further urged SIDBI to establish at least one support centre in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs.
