Commerce and Industry Minister Piyush Goyal recently revealed that a substantial portion of the Rs 10,000 crore second fund of funds for startups in India will be directed towards aiding seed funding for smaller players in order to foster deep-tech innovation within the country. The Small Industries Development Bank of India (Sidbi), a government financial institution, has been tasked with managing this fund, which includes a Rs 2,000 crore allocation for the current fiscal year. This initiative aims to provide crucial financial support to budding startups and encourage the development of cutting-edge technologies in various sectors. By focusing on seed funding for smaller players, the government hopes to stimulate innovation and create a conducive environment for startups to thrive in India’s rapidly evolving business landscape. This move underscores the government’s commitment to promoting entrepreneurship and fostering a culture of innovation to drive economic growth and development in the country.