Startups haven’t got even a tenth of govt fund yet

The Rs 1000 crore Fund-of-Funds for start-ups (FFS), set up by the central government in January 2016, could so far disburse only Rs 70 crore.

The Indian Express reported that while the Department of Industrial Policy and Promotion (DIPP) released Rs 600 crore to SIDBI (Small Industries Development Bank of India), and SIDBI in turn has committed Rs 623.5 crore in 17 Alternative Investment Funds (AIFs), the funds have withdrawn only Rs 69.5 crore.

The fund, launched to boost startups in the country, invests in local venture capital funds, which in turn are to back seed-stage and early-stage companies.

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