Nod for Rs.10,000 cr start-up fund

  1. The Cabinet approved the setting up of a Rs.10,000 crore ‘Fund of Funds for Startups’ at the Small Industries Development Bank of India (SIDBI)
  2. It will contribute to various Alternative Investment Funds registered with the Securities and Exchange Board of India (SEBI)
  3. The Rs.10,000 crore-corpus will be built up over the 14th and 15th Finance Commission cycles subject to progress of the scheme and availability of funds
  4. Already, Rs.500 crore has been provided
  5. The fund is expected to generate employment for 18 lakh persons & will support start-ups in becoming full-fledged business entities
  6. This is in line with the Start-up India Action Plan of the government unveiled this year
Start-up Ecosystem In India
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