Startup India Desk: A New Gateway for Entrepreneurs

Commerce and Industry Minister Piyush Goyal has announced the establishment of a Startup India desk within the Department for Promotion of Industry and Internal Trade (DPIIT). This initiative aims to serve as a comprehensive helpline for entrepreneurs across India, accessible via a simple four-digit toll-free number in regional languages. The desk will provide a direct channel to the government for resolving issues, suggesting improvements, and offering guidance on overcoming obstacles.

Second Fund of Funds for Start-ups (FFS) to Boost Innovation

In a significant move to support the startup ecosystem, the government has approved the second Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore. The first installment of Rs 2,000 crore will be disbursed to the Small Industries Development Bank of India (SIDBI). A portion of the fund is earmarked for seed funding of small startups and to foster innovation in cutting-edge technologies such as AI, robotics, and biotech.

Fostering Deep-Tech Startups

The government is focusing on nurturing deep-tech startups by providing early-stage financial support, especially in sectors with high capital requirements. This initiative addresses the gap left by traditional funding sources and aims to position India as a leader in global innovation.

Infrastructure Support for Early-Stage Entrepreneurs

To further aid entrepreneurs, Goyal has urged SIDBI to establish support centers in every state. These centers will offer essential infrastructure and shared facilities, enabling entrepreneurs to access basic services and collaborative spaces to grow their businesses.