Details of the ‘Startup India’ initiative, as envisaged in the policy document Startup India Action Plan, are at Annexure I. With respect to investment in Startups, the Startup India Action Plan provides for a Fund of Funds for Startups (FFS) with a corpus fund of INR 10,000 crores for development and growth of innovation driven enterprises.

As on 28th February, 2017, Rs. 500 crores had been released to SIDBI for the FFS. Out of this, Rs 114 crores was sanctioned to 5 Alternative Investment Funds (AIFs), who in turn have invested Rs 27.81 crores in 9 Startups.

This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today

 

****

 

MJPS 

(Release ID: 1498112) Visitor Counter : 217