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AIFs seek specific funds from govt for new-age, sunrise, deep-tech startups
Economic Times
·
7m ago
Medial
Alternate investment funds (AIFs) have asked the government for designated funds to invest in new-age, sunrise, and deep-tech startups to foster innovation. They've also called for a new round of funds under the Fund of Funds for Startups (FFS) scheme and an extension beyond 12 years. The discussions included enhancing startup funding, especially in smaller cities. Since its 2016 inception, the FFS has mobilized over Rs 21,000 crore, supporting numerous industries and technology startups.
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Unlocking Growth: How Alternative Investment Funds Are Fuelling Tech Startups In India
Inc42
·
1y ago
Medial
Alternative Investment Funds (AIFs) have become a major force in India's tech startup ecosystem. They provide startups with access to diverse and flexible capital, playing a crucial role in their growth. Over the past five years, AIFs have experienced significant growth, surpassing mutual funds and portfolio management services. India's tech startup ecosystem is flourishing, with over 1,230 startups across the country. Factors such as increasing internet penetration, supportive government policies, and the involvement of venture capital firms and angel investors contribute to this growth. AIFs offer different investment options tailored to specific investor preferences and goals, supporting startups and early-stage ventures, and targeting sectors like real estate and private equity. AIFs not only provide capital but also offer mentorship and industry expertise to startups. The AIF sector is expected to surpass mutual funds in the next five years, reaching an estimated INR 43.64 Lakh Cr, contributing to the growth of India's tech startup landscape.
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Budget 2024: Deep Tech Sector Seeks Policy Support, Ethical AI Guidelines
OutlookIndia
·
9m ago
Medial
The upcoming Union Budget in India, to be presented by Finance Minister Nirmala Sitharaman, is highly anticipated as it will be the first budget after the general elections. The deep-tech sector received a boost in the previous interim budget, with a significant investment announced for sunrise technology. The Ministry of Commerce and Industry is also considering specialized policies to foster innovation in deep tech startups. The National Deep Tech Startup Policy is in its final stage of consultation. Expectations are high for measures to support AI development and address the need for ethical guidelines and reskilling initiatives in this budget.
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E-commerce firms haven't come up with help from govt: Mohandas Pai
Inshorts
·
3m ago
Medial
Former Infosys CFO Mohandas Pai said e-commerce companies in India "have not come up with any help from the government". His remark comes after Union Minister Piyush Goyal criticised Indian startups for focusing on food delivery services rather than deep-tech. "We have a large number of deep-tech startups, but they're not getting enough money," Pai said.
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Deeptech firms facing cash crunch despite govt push
Economic Times
·
5m ago
Medial
India's deep tech startups face a capital crunch despite government support, as outlined in a 3one4 Capital report. While the government prioritizes deep tech, funding often targets consumer internet startups, leaving sectors like AI and semiconductors underfunded. Issues like long R&D cycles and regulatory hurdles call for patient capital, which is limited. Though a Rs 10,000 crore deep tech fund exists, more domestic capital is needed to prevent a brain drain and bolster India's competitiveness.
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Building deep tech isn't just on startups; govt, industry must step up, too: Sanjeev Bikhchandani
Economic Times
·
3m ago
Medial
Tech founder Sanjeev Bikhchandani argues that building deep tech in India is not solely the responsibility of startups due to the extensive funding and long time horizons required. He suggests that deep-pocketed entities like the government, Reliance, and Adani must partner to fill this gap. Unlike consumer startups, deep tech ventures face longer development periods and require vast resources. Bikhchandani emphasizes the need for perpetual capital investments to support impactful technologies and bridge this national priority.
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Fund Of Funds Commits INR 9,500 Cr To Aid Startups: SIDBI Chairman
Inc42
·
1y ago
Medial
The Fund of Funds for Startups (FFS), led by the Small Industries Development Bank of India (SIDBI), has committed INR 9,500 Cr to support new ventures in India. This commitment has resulted in over 100 alternative investment funds (AIFs) raising more than INR 56,000 Cr. The FFS, announced in 2016 under the Startup India initiative, aims to contribute to AIFs registered with SEBI. The fund has already supported startups in sectors such as deeptech, agritech, healthtech, fintech, and sustainability, with 18 of them achieving unicorn status.
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NABARD launches agriculture-focused fund with a corpus of Rs 750 Cr
YourStory
·
1y ago
Medial
NABARD has launched an agri fund called 'Agri-SURE' with an initial corpus of Rs 750 crore to support agricultural startups. The fund aims to invest up to Rs 25 crore in around 85 startups by the end of its tenure. It will provide support through investments in sector-specific funds, debt Alternative Investment Funds (AIFs), and direct equity support. The fund also plans to promote IT-based solutions and machinery rental services for farmers. In addition, NABARD has launched the Agri-SURE Greenathon 2024, a hackathon to address key problems in agritech.
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Outlook Start-Up - Indian Start-ups, Tech Start-ups, Unicorns, Investors, VC Funds, IPO
OutlookIndia
·
8m ago
Medial
Outlook Startups is a platform that offers comprehensive coverage of Indian startups, venture capital and private equity funds, government policies, e-commerce, and global trends. It focuses on topics such as policy support for the deep tech sector, ethical AI guidelines, digital personal data protection laws, and challenges faced by quantum computing startups. It also highlights the lack of VC interest and funding challenges for deep tech startups due to longer gestation periods.
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New Rs 10,000-crore fund to boost startup ecosystem
Economic Times
·
4m ago
Medial
The government has injected an additional Rs 10,000 crore into the Startup India Fund of Funds to enhance the startup ecosystem. By allowing reinvestment of alternate investment funds (AIFs), it aims for quicker exits, increased liquidity, and reinvestment potential. The fund supports SEBI-registered AIFs to bolster high-potential startups, with a focus on capital availability, private investment, and growth in tier-2 and tier-3 cities. As of September 2024, SIDBI supported 1,120 startups with Rs 19,992 crore investment.
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Domestic startups come under income tax glare for their recent funding
Economic Times
·
1y ago
Medial
Several new economy ventures in the fintech sector have received income tax notices under Section 68 of the Income Tax Act. These notices have combined the investments received by startups with their income, leading to tax and penalty levies. In one case, a startup has been asked to pay Rs 37 crore in tax and penalty on funding of Rs 40 crore. Startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) typically do not face such scrutiny. Venture funds and AIFs have also received tax notices, causing concerns about the impact on working capital. The government had amended Section 68 of the IT Act in 2022 to seek information about the sources of venture fund infusion.
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