Since its inception, 19,351 Startups across the country have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as on 24.06.2019.
KRC TIMES Desk
Start-up India initiative launched on 16th January 2016, consists of 19 Action Points that act as a guiding document for the initiative.
Since its inception, 19,351 Startups across the country have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as on 24.06.2019.
Government of India has established Fund of Funds for Startups (FFS) with corpus of Rs. 10,000 crore, to meet the funding needs of startups. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crore is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. SIDBI has committed Rs 3123.20 crore to 49 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of INR 27,478 crore. INR 483.46 crore have been drawn from Fund of Funds for Startups. Further, the AIFs have invested a total of Rs. 1,625.73 crore into 247 startups.
A total of 26 states have notified and operational startup policies.
This information was given by the Minister of Commerce and Industry, PiyushGoyal, in a written reply in the Rajya Sabha on 28th June.
