Government commits Rs. 7,385 crore (US$ 904.73 million) under Fund of Funds for Startups (FFS).

IICCI
Sep 28, 2022
1 min read

Prime Minister Mr. Narendra Modi, has contributed Rs. 7,385 crore (US$ 904.73 million) to 88 Alternative Investment Funds (AIFs) under the Startup India programme - The Fund of Funds for Startups (FFS) , which was established by him in 2016. In turn, these AIFs contributed Rs. 11,206 crore (US$ 1.37 billion) to 720 startups.

FFS was announced with a Rs. 10,000 crore (US$ 1.22 billion) corpus. The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, will provide budgetary assistance for the corpus' development for the course of the 14th and 15th Finance Commission Cycles (FY 2016-2020 and FY 2021-2025).

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Aug 12

Rated 5 out of 5 stars.

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