The Ministry of Commerce and Industry plans to designate a significant portion of the second Rs 10,000 crore Fund of Funds Scheme (FFS) for startups to emerging entrepreneurs in fields like advanced technology, artificial intelligence, and machinery manufacturing, according to an official statement.
In the Budget, the government revealed a new FFS with a fund of ₹10,000 crore, following a similar initiative launched in 2016.
We plan to allocate a significant portion of this Rs 10,000 crore fund of funds primarily towards emerging technologies, artificial intelligence, and machinery development,” the official stated.
The 2016 initiative was established to stimulate venture capital investments and is implemented by the Small Industries Development Bank of India (SIDBI), which allocates funds to AIFs registered with the Securities and Exchange Board of India (Sebi), enabling them to invest in startups.
