The government has allocated Rs 8.3 billion for the Fund of Funds for Startups (FFS) in the Budget 2021-22. The government has set up the FFS with a corpus of Rs 100 billion and the Small Industries Development Bank of India (SIDBI) is the operating agency for the FFS.
Earlier in Budget 2020-21, the government had allocated Rs 10.54 billion for the fund of funds, which was revised to Rs 4.29 billion.
According to the Budget documents, the allocation for Startup India programme has been increased marginally to Rs 208.3 million for 2021-22 from the revised estimate of Rs 200 million in 2020-21.
Through the Startup India initiative, the government aims at fostering entrepreneurship and promoting innovation.
