The Government on Saturday announced a new FFS with Rs 10,000 crore corpus to promote growth of budding entrepreneurs in the country. In 2016 also, the government launched a similar scheme, with a corpus of Rs 10,000 crore, with contributions spread over the 14th and 15th Finance Commission cycles.
Bhatia said the first series of FFS has helped in building the AIF (alternate investment fund) ecosystem in the country which provided much-needed capital to startups.
For the second series, announced in the Budget, “We already had consultations with AIFs, with SIDBI…We expect that this should help in covering the large spectrum of startups which need longer duration of funds, which need different types of funding beyond the equity infusion,” he added.