Govt passes Rs 10,000-cr corpus ‘fund of funds for startups’

On January 15, 2016, the entire nation took an oath to drive and fast track entrepreneurship with ‘Startup India’ mission. The nation got another booster with the government approving establishment of ‘Fund of Funds for Startups’ at SIDBI. Though it was announced in the form of a corpus fund of Rs 10,000 crores, we believe that this could potentially be a nucleus of a Rs 60,000 crores equity investment opportunity.

We commend the government for being giving the required impetus to stimulating the growth of the entrepreneurial ecosystem. This is a significant move to address challenges like limited domestic capital and support from credible agencies and will certainly be instrumental in accelerating our ‘Make in India’ mission.

India is among the most preferred investment destinations, indicating the country’s steady economic importance in the global landscape. Our entrepreneurs are bound to be fired with renewed enthusiasm and vigor, taking full advantage of the dispensation. Sooner or later, the Country will be a nation of entrepreneurs.