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, with a focus on propelling 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 current year. This initiative aims to boost the startup ecosystem in India, particularly supporting early-stage startups that are working on cutting-edge technologies. Goyal emphasized the importance of nurturing innovation and providing necessary resources for startups to thrive in the competitive market. The move is expected to encourage more entrepreneurs to venture into the deep-tech space and contribute to India’s growth as a hub for technological innovation. This strategic allocation of funds underscores the government’s commitment to fostering a conducive environment for startups and promoting innovation-driven entrepreneurship in the country.