The Government has notified the Startup India Fund of Funds 2.0 (Startup India FoF 2.0) with a total corpus of ₹10,000 crore to mobilise venture and growth capital for the country’s startup ecosystem.
The Congress government had recently decided to shift government offices operating out of private buildings. As part of this exercise, it identified government premises where these offices could be accommodated.
Uttar Pradesh is rapidly emerging as a major powerhouse within Startup India.
The partnership reinforces DPIIT’s commitment to nurturing an innovation-led economy and accelerating India’s journey towards becoming a global startup hub.
These two MoUs comprise one with Pfizer Limited and another with ICICI Bank.
Prime Minister Narendra Modi on Thursday underscored the role of Indian startups in solving global challenges while at the same time creating employment opportunities and boosting our quest towards self-reliance.
The Indian startup ecosystem has seen major changes in the last few years and there has been an unprecedented rise in the participation of women entrepreneurs as the funding of female-led startups increased by over 90 per cent in 2024.
A total of 51 founders of 28 Indian new-age startup companies in the country took home Rs 283.5 crore as an annual salary in FY24.
In 2024, the Department for Promotion of Industry and Internal Trade (DPIIT), achieved a range of milestones. These range from Production Linked Incentive (PLI) schemes to boosting startup ecosystems, streamlining logistics, and enhancing FDI inflows.
From just 50 biotech startups in 2014 in India, the ecosystem has grown to nearly 9,000 in the last decade, according to Union Minister Jitendra Singh.
