Guidelines for phase II of Fund of Funds scheme for startups at advanced stage: Commerce Minister Piyush Goyal

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Commerce and Industry Minister Piyush Goyal on Friday said the formulation of guidelines for the operationalisation of the second phase of the Fund of Funds scheme for startups is at an advanced stage.

To strengthen the startup ecosystem, the government constituted a Fund of Funds worth Rs 10,000 crore in 2016 to provide seed capital and enable startups to take calculated risks.

Following the successful utilisation of the first tranche, a second tranche of Rs 10,000 crore was sanctioned in the last Union Budget.

He said the government aims to deploy a…



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Guidelines for phase II of Fund of Funds scheme for startups at advanced stage: Commerce Minister Piyush Goyal



Commerce and Industry Minister Piyush Goyal on Friday said the formulation of guidelines for the operationalisation of the second phase of the Fund of Funds scheme for startups is at an advanced stage.

To strengthen the startup ecosystem, the government constituted a Fund of Funds worth Rs 10,000 crore in 2016 to provide seed capital and enable startups to take calculated risks.

Following the successful utilisation of the first tranche, a second tranche of Rs 10,000 crore was sanctioned in the last Union Budget.

He said the government aims to deploy a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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