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 in the country. The Small Industries Development Bank of India (Sidbi), a government financial institution, has been tasked with overseeing this fund and has been allocated Rs 2,000 crore for the current year. This move is aimed at providing crucial support to emerging startups, particularly those focusing on cutting-edge technologies, to help them navigate the challenging initial stages of development and scale their innovations. By prioritizing seed funding for smaller players, the government hopes to create a more nurturing ecosystem for startups in India, enabling them to thrive and make significant contributions to the country’s technological landscape. This strategic allocation of funds underscores the government’s commitment to promoting innovation and entrepreneurship in the country, ultimately driving economic growth and job creation.