Question
Download Solution PDFThe Fund of Funds for Startups (FFS), launched in 2016 under the Startup India Action Plan, was approved with a corpus of how much?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Rs 10,000 crore
In News
- Prabhaav SIDBI unveiled a CRISIL study on the impact of the Fund of Funds for Startups (FFS) on the startup ecosystem.
Key Points
- The Fund of Funds for Startups (FFS) was launched in 2016 as part of the Startup India Action Plan with a corpus of Rs 10,000 crore.
- FFS is managed by the Small Industries Development Bank of India (SIDBI).
- The fund does not directly invest in startups but provides capital to SEBI-registered Alternative Investment Funds (AIFs), which in turn invest in startups.
- FFS aims to support innovation-driven enterprises and boost the startup ecosystem in India.
Additional Information
- Startup India Initiative
- Launched on January 16, 2016, to foster innovation and startups in India.
- Key components include tax exemptions, simplified compliance, and funding support.
- Alternative Investment Funds (AIFs)
- SEBI-regulated funds that pool capital from investors to invest in startups, SMEs, and other high-growth sectors.
- SIDBI
- Small Industries Development Bank of India (SIDBI) is the principal financial institution for MSME development in India.
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