Monday, 9 June 2025
Given that the government is concentrating on encouraging innovation through startups, the declaration takes significance for promoting Agripreneurs in the sector
With a capital of Rs 10,000 crore, Finance Minister Nirmala Sitharaman inaugurated a new round of the Fund of Funds for Startups plan on Saturday to support the development of aspiring business owners. Given that the government is concentrating on encouraging innovation through startups, the declaration takes significance. To far, more than 1.5 lakh startups have been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
On January 16, 2016, Startup India released their action plan. To address the finance needs of entrepreneurs, the Fund of Funds for entrepreneurs (FFS) plan was introduced that same year with a capital of Rs 10,000 crore. FFS is run by the Small Industries Development Bank of India (SIDBI), while DPIIT serves as its monitoring organization. Based on the scheme’s development and the availability of funds, a total corpus of Rs 10,000 crore was planned to be distributed over the 14th and 15th cycles of the Finance Commission.
In addition to providing funding for firms in their early, seed, and development stages, it has also acted as a catalyst for domestic capital raising, lowering reliance on foreign funding, and promoting domestic and new venture capital funds.
