Govt reserves chunk of second startup fund for small players

New Delhi: An important part of another fund of Rs 10,000 crore of funds for startups is proposed to be reserved. seed funding To support small players Deep technology innovationCommerce and Industry Minister Piyush Goyal said on Saturday.
The fund is to be set up by SIDBI, the government -owned financial institution, and an allocation of Rs 2,000 crore will be done during the year. The second fund of funds was announced in the budget.
Addressing the Startup Mahakumb, Goyal announced the establishment of a dedicated Startup India Desk within his Ministry, which is accessible through a simple four-digit toll-free number in regional languages, to work as a helpline for budding entrepreneurs across India.
“We aim to promote the development of state -of -the -art technologies such as AI, robotics, quantum computing, machine learning, accurate construction and biotech,” Goyal said. Its purpose is to provide initial stage support to entrepreneurs who face challenges in reaching traditional forms of capital.
Gathering Patient capitalGoyal said, the government aims to build a strong pipeline of indigenous technology solutions that can address national priorities and take India as a global innovation leader. He also asked SIDBI to provide infrastructure and shared facilities to set up at least one support center in every state. Initial stage entrepreneurs,