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 dedicated to backing seed funding for smaller players in order to promote deep-tech innovation in the country. The fund will be managed by Sidbi, a government financial institution, which has been allocated Rs 2,000 crore for the upcoming year. This move is expected to provide a significant boost to the startup ecosystem in India, particularly for those focusing on cutting-edge technologies and solutions. The decision underscores the government’s commitment to fostering innovation and entrepreneurship in the country, aligning with the vision of making India a global hub for startups and technological advancements. By prioritizing seed funding for smaller players, the government aims to enable these startups to scale their operations and bring their innovative ideas to fruition. This strategic initiative is poised to create a conducive environment for startups to thrive and contribute significantly to India’s economic growth and technological development.