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Government to provide major part of Rs 10,000 crore startup fund to sectors like new age tech, AI

Economic Times · 2d

The commerce and industry ministry will allocate a major part of a new Rs 10,000 crore Fund of Funds Scheme (FFS) for startups in fields such as new-age technology, artificial intelligence, and machine building. This initiative aims to bolster venture capital investments and foster innovation through the Startup India initiative. Managed by the Small Industries Development Bank of India (SIDBI), the scheme builds on a similar 2016 effort, supporting over 1,50,000 recognized startups.