Commerce and Industry Minister Piyush Goyal recently revealed that a substantial portion of the Rs 10,000 crore second fund of funds for startups will be dedicated to aiding seed funding for smaller players in order to propel deep-tech innovation in India. The fund will be managed by Sidbi, a government financial institution, which has been allocated Rs 2,000 crore for the upcoming year. This initiative aims to bolster the startup ecosystem in the country, particularly focusing on supporting emerging players in the deep-tech sector. By providing financial assistance at the seed stage, the government hopes to encourage more innovation and technological advancements in India’s startup landscape. This move is anticipated to not only nurture early-stage startups but also foster a conducive environment for the growth of deep-tech ventures. The allocation of a significant amount from the fund of funds for seed funding underscores the government’s commitment to promoting innovation and entrepreneurship, ultimately contributing to the overall economic development of the nation.