Commerce and Industry Minister Piyush Goyal announced on Saturday that a Startup India desk will be set up within the Department for Promotion of Industry and Internal Trade ( DPIIT ) to act as a helpline for emerging entrepreneurs across India.
The desk will be accessible through a simple four-digit toll-free number in regional languages, providing easier access to resources and guidance, as per PTI report.
Goyal explained that the helpline will be a crucial tool for budding entrepreneurs to voice concerns, suggest improvements to the ecosystem, and flag any challenges they face. The initiative is part of the government’s commitment to making it easier for start-ups to thrive in India, a key sector for economic growth.
"This desk will provide entrepreneurs with a direct channel to the government to resolve issues, suggest improvements, and offer guidance on overcoming obstacles," Goyal said.
Second Fund of Funds for Start-ups (FFS) to boost innovation
In addition to the Startup India desk, Goyal also announced the approval of the second Fund of Funds for Startups (FFS), which will have a corpus of Rs 10,000 crore. This year, Rs 2,000 crore will be disbursed to the Small Industries Development Bank of India (SIDBI) as the first installment.
A significant portion of the fund will be reserved for seed funding of small startups and to support innovation in emerging technologies. Goyal emphasized that the fund will prioritize startups focused on cutting-edge fields like artificial intelligence (AI), robotics, quantum computing, machine learning, precision manufacturing, biotech, and semiconductor design.
Fostering Deep-Tech startups
Through this fund, the government aims to foster the growth of deep-tech startups by providing early-stage financial support, particularly in sectors that face high capital requirements and long gestation periods. Goyal noted that traditional funding sources often overlook such high-risk ventures, which are critical to India’s global innovation goals.
"This fund is designed to nurture start-ups in advanced domains where long-term investments are required," he said, stressing that these technologies are key to addressing national challenges and positioning India as a leader in global innovation.
Infrastructure support for entrepreneurs
To further support early-stage entrepreneurs, Goyal urged SIDBI to establish at least one support centre in every state, providing essential infrastructure and shared facilities. This will enable entrepreneurs to access basic services and a collaborative space to grow their businesses.
"We need to ensure that every budding entrepreneur has access to the necessary infrastructure to scale their ventures," he said, highlighting the importance of creating an enabling environment for innovation.
The desk will be accessible through a simple four-digit toll-free number in regional languages, providing easier access to resources and guidance, as per PTI report.
Goyal explained that the helpline will be a crucial tool for budding entrepreneurs to voice concerns, suggest improvements to the ecosystem, and flag any challenges they face. The initiative is part of the government’s commitment to making it easier for start-ups to thrive in India, a key sector for economic growth.
"This desk will provide entrepreneurs with a direct channel to the government to resolve issues, suggest improvements, and offer guidance on overcoming obstacles," Goyal said.
Second Fund of Funds for Start-ups (FFS) to boost innovation
In addition to the Startup India desk, Goyal also announced the approval of the second Fund of Funds for Startups (FFS), which will have a corpus of Rs 10,000 crore. This year, Rs 2,000 crore will be disbursed to the Small Industries Development Bank of India (SIDBI) as the first installment.
A significant portion of the fund will be reserved for seed funding of small startups and to support innovation in emerging technologies. Goyal emphasized that the fund will prioritize startups focused on cutting-edge fields like artificial intelligence (AI), robotics, quantum computing, machine learning, precision manufacturing, biotech, and semiconductor design.
Fostering Deep-Tech startups
Through this fund, the government aims to foster the growth of deep-tech startups by providing early-stage financial support, particularly in sectors that face high capital requirements and long gestation periods. Goyal noted that traditional funding sources often overlook such high-risk ventures, which are critical to India’s global innovation goals.
"This fund is designed to nurture start-ups in advanced domains where long-term investments are required," he said, stressing that these technologies are key to addressing national challenges and positioning India as a leader in global innovation.
Infrastructure support for entrepreneurs
To further support early-stage entrepreneurs, Goyal urged SIDBI to establish at least one support centre in every state, providing essential infrastructure and shared facilities. This will enable entrepreneurs to access basic services and a collaborative space to grow their businesses.
"We need to ensure that every budding entrepreneur has access to the necessary infrastructure to scale their ventures," he said, highlighting the importance of creating an enabling environment for innovation.
You may also like
IPL Pre-Match Comments: Mahela Jayawardene Wants No Pressure On Bumrah In His Comeback Match
Indore: 17-Year-Old Dies Of Suspected Heart Attack On His birth 'Tithi'
African country suffering from overtourism but loved by British travellers
Economists warn of another 'Black Monday crash' after Trump tariffs hammer market
Union Minister Ravneet Singh Bittu thanks farmer leader Jagjit Singh Dallewal for ending hunger strike
