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Rs 10,000 crore fund of funds scheme to focus on manufacturing, high-tech startups: DPIIT Secy

Economic Times · 1m

The Rs 10,000 crore Fund of Funds Scheme (FFS), unveiled in the Budget, targets manufacturing and high-tech startups needing long-term funding, according to DPIIT Secretary Amardeep Singh Bhatia. This initiative will differ from its 2016 predecessor, addressing high-end tech startups and those improving public services. The original FFS catalyzed over Rs 21,700 crore in 1,180 startups. The new FFS aims for extended funding durations, exploring options like debt funds, and mobilizing 20 times the investment.