Question
There is no provision under Startup India initiative for
sanctioning of funds to startups directly. However, Government of India has established a Fund of Funds for Startups (FFS) with corpus of_________, to meet the funding needs of startups.Solution
Explanation: There is no provision under Startup India initiative for sanctioning of funds to startups directly. However, Government of India has established a Fund of Funds for Startups (FFS) with corpus of Rs. 10,000 crores, to meet the funding needs of startups. Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.
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