Second tranche of fund of funds for start-ups to be implemented soon: Goyal

The formulation of guidelines for the rolling out of the second phase of the fund of funds (FoF) scheme for startups is almost at an advanced stage and will be implemented soon, once it gets the clearance from the Cabinet, said Commerce and Industry Minister Piyush Goyal on Friday.

As India marked the 10 year anniversary of the National Startup India Day, deep tech and high-tech sectors such as defence, space, and aerospace have become the major focus of the government, where they are pushing for more entrepreneurial zeal among youth, stated the Minister while addressing the media. “It has been announced in the Budget.