Thursday, June 8, 2023

Govt’s FFS committed Rs 14,077 crore in 791 Indian startups in 2022, MoCI

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As of December 31, 2022, 791 startups received investments totalling Rs 14,077 crore through the Fund of Funds for Startups (FFS) Scheme and Alternative Investment Funds (AIFs), according to the Minister of State for Commerce and Industry, Som Parkash.

In reply to a Parliament Question, he stated that FFS for startups has pledged Rs 7,980 crore to 99 AIFs, and 72 AIFs have received Rs 3,400 crore, which they then invested in the startups.

The top ten States/UT with the most startups include Karnataka, Maharashtra, Delhi, Haryana, and Tamil Nadu, Uttar Pradesh, Telangana, Madhya Pradesh, Gujarat, and Assam. Karnataka, with 240 startups, has received investments amounting to Rs 4,687 crore.

It is followed by Maharashtra with 176 startups and Rs 3,426 crore investment, and Delhi with 138 startups and Rs 2,254 crore investment. FFS Scheme was approved and established in 2016 with a corpus of Rs 10,000 crore to provide a boost to the Indian startup ecosystem and enable access to domestic capital.

Under FFS, the scheme does not directly invest in startups but instead provides capital to SEBI-registered AIFs, known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments.

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