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Union Commerce and Industry Minister Piyush Goyal and actress Sonam Kapoor present an award and a certificate during Startup Mahakumbh, at Bharat Mandapam in New Delhi on Saturday.
| Photo Credit:
ANI
India will make a “substantial allocation” towards deeptech through the ₹10,000-crore Fund of Funds scheme, Piyush Goyal, Union Commerce Minister, said on Saturday while addressing the Startup Mahakumbh 2025.
The Centre is committed to supporting startups as a facilitator, not as a regulator.
“We, on our part through the Fund of Funds will make a substantial allocation towards deep tech which will help mobilise patient capital for R&D focused on our startups,” he said.
“Our aim will be to foster the development of cutting edge technologies such as AI, robotics, quantum computing, machine learning, precision manufacturing, biotech and alike,” the Minister added.
The SIDBI has been asked to prioritise smaller startups while disbursing funds through the scheme.
This year, ₹2,000 crore will be disbursed to SIDBI as the first installment. A significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation.
“Through this fund, we aim to foster the development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech,” he stated.
The objective is to provide early-stage financial support to budding entrepreneurs who often face challenges in accessing traditional forms of capital. This allocation will empower startups working on disruptive technologies by enabling them to scale prototypes, undertake research and development, and accelerate go-to-market strategies.
The fund will especially focus on startups operating in cutting-edge domains such as artificial intelligence, machine learning, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, where long gestation periods and high capital requirements often pose hurdles. By mobilising patient capital, the Government aims to build a strong pipeline of indigenous technology solutions that can address national priorities and position India as a global innovation leader.
A dedicated helpline and desk assisting startups to address their concerns and complaints will also be set up by the Union Commerce Ministry.
“Our startup maharathis (highly skilled warriors) will help realise our goal of Vikshit Bharat,” Goyal said.
Making a political point, the Minister said that opposition parties “cannot digest” India’s economic success under PM Narendra Modi’s leadership.
“….you aspire for much bigger things in life,” he said.
Published on April 5, 2025
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