Startup India Desk To Serve As Helpline For Budding Entrepreneurs: Piyush Goyal

Commerce and Trade Minister Piyush Goyal on Saturday introduced the organising of a devoted Startup India desk throughout the ministry to function a helpline for budding entrepreneurs throughout India, accessible by way of a easy four-digit toll-free quantity in regional languages.

He additionally stated the second Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore, has been permitted and this yr, and Rs 2,000 crore will probably be disbursed to SIDBI as the primary installment.

A good portion of the fund will probably be reserved for seed funding of small startups and to help deep-tech innovation startups, he stated.

By this fund, “we goal to foster the event of cutting-edge applied sciences like AI, robotics, quantum computing, machine studying, precision manufacturing and biotech,” he stated, including that by way of the desk, a startup can counsel steps to additional enhance the ecosystem and flag issues, if they’re going through any.

The target of the fund is to offer early-stage monetary help to budding entrepreneurs who usually face challenges in accessing conventional types of capital.

The fund will particularly give attention to startups working in cutting-edge domains resembling synthetic intelligence, machine studying, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, the place lengthy gestation durations and excessive capital necessities usually pose hurdles.

By mobilising affected person capital, the federal government goals to construct a powerful pipeline of indigenous know-how options that may handle nationwide priorities and place India as a world innovation chief, Goyal stated.

Goyal additional urged SIDBI to determine a minimum of one help centre in each state to offer primary infrastructure and shared services for early-stage entrepreneurs. 

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