Empowering Small Players in the Startup Ecosystem

In a significant move to bolster innovation, the Indian government has announced that a substantial part of the Rs 10,000 crore second fund of funds for startups will be reserved for seed funding of smaller players. This initiative aims to support deep-tech innovation, as stated by Commerce and Industry Minister Piyush Goyal.

File photo - Piyush Goyal

Supporting Early-Stage Entrepreneurs

The fund, to be established by Sidbi, a government-owned financial institution, will see an allocation of Rs 2,000 crore disbursed within the year. This initiative, announced in the Budget, is part of the government's broader strategy to foster cutting-edge technologies such as AI, robotics, quantum computing, machine learning, precision manufacturing, and biotech.

A New Helpline for Startups

Further supporting the startup ecosystem, Goyal unveiled plans for a dedicated Startup India desk within his ministry. This desk will serve as a helpline for budding entrepreneurs across India, accessible through a simple four-digit toll-free number in regional languages.

Building a Global Innovation Leader

By mobilizing patient capital, the government aims to build a robust pipeline of indigenous technology solutions that address national priorities and position India as a global innovation leader. Additionally, SIDBI has been tasked with establishing at least one support center in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs.