On Saturday, the Commerce Minister of Piyush Goyal announced the establishment of a dedicated startup India desk within the ministry to serve as a helpline for emerging entrepreneurs across India, accessible through simple four-digit dialing numbers in the regional language.
He also said the startup’s second funding fund with a corpus of Rs 10,000 has been approved, and this year Rs 2,000 will be paid to Sidbi as the first article.
The majority of the funds will be reserved for seed funds for small startups and reserved to support deep technology innovation startups, he said.
Through the fund, we aim to “focus on developing cutting-edge technologies such as AI, robotics, quantum computing, machine learning, precision manufacturing and biotechnology,” he said, adding that through our desks, startups can propose steps to further improve the issue of ecosystems and flags.
The purpose of the fund is to provide early stage financial support to budding entrepreneurs who often face challenges in accessing traditional forms of capital.
