NEW DELHI— The Indian government has committed more than ₹11,606 crore to support and nurture the country’s startup ecosystem through three major schemes under the Startup India initiative, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha on Friday.
As of June 30, a total commitment of ₹9,994 crore has been made to 141 Alternative Investment Funds (AIFs) under the Fund of Funds for Startups (FFS) scheme. Operated by the Small Industries Development Bank of India (SIDBI), FFS is designed to catalyze venture capital funding by investing in SEBI-registered AIFs, which subsequently invest in Indian startups.
In addition to FFS, the Startup India initiative also includes the Startup India Seed Fund Scheme (SISFS) and the Credit Guarantee Scheme for Startups (CGSS), which support startups at various stages of their growth.
SISFS provides early-stage funding through incubators. As of June 30, ₹945 crore has been sanctioned to 219 selected incubators, the minister said.
Meanwhile, the CGSS offers collateral-free loans to eligible startups via approved financial institutions. This scheme is administered by the National Credit Guarantee Trustee Company (NCGTC) Limited. So far, 289 loans amounting to ₹667.85 crore have been guaranteed under the scheme.
Prasada also shared updates on the Ministry of Skill Development and Entrepreneurship’s Project ‘Swavalambini,’ implemented by the National Institute for Entrepreneurship and Small Business Development (NIESBUD) in Noida and the Indian Institute of Entrepreneurship (IIE) in Guwahati. The project is conducted in collaboration with NITI Aayog’s Women Entrepreneurship Platform (WEP).
The initiative includes Entrepreneurship Awareness Training, Entrepreneurship Development Training for students, and Faculty Development Programs (FDPs) for educators in higher education. As of June 30, awareness programs have reached 591 students and FDPs have been completed for 43 faculty members across Higher Education Institutions. (Source: IANS)
