Fund of Funds for Start-ups – Helping achieve the vision of a $5 trillion economy | Jobs Recent


Small Industry Development Bank of India (“SIDBI”), the main financial institution dealing with the promotion, financing and development of micro, small and medium enterprises (MSME), organized the Investor Connect event on December 17, 2022 in Mumbai, attended by over 150 representatives of various Alternative Investment Funds, Commercial Banks and NBFCs were present. The event was aimed at disseminating information about the Fund of Funds for Start-ups (FFS) and the newly launched Loan Guarantee Program for Start-ups (CGSS).

Shri Subramanian Ramann, CMD, SIDBI provided context for the event and said: “The event was organized to provide AIF with a platform to interact directly with dignitaries from the Department of Industry and Domestic Trade Promotion of the Ministry of Trade and Industry, GoI and SIDBI officials. As declared by the Prime Minister, this decade is called “Techade of India”. We believe that the Start-up ecosystem will fulfill the Honorable Prime Minister’s vision and help India reach its goal of a $5 trillion economy by 2025.” In addition, it confirmed the solid structure that was created thanks to Venture Investment to reach start-ups.

sat. Shruti Singh, Joint Secretary, DPIIT, in her introductory speech, recognized the progress FFS has made in acting as a multiplier in raising much-needed capital for start-ups. She mentioned that the number of start-ups increased from 452 in 2016 to 84,012 in November 2022. This significant increase in the number of start-ups coincides with the implementation of the Start-up India Action Plan. FFS and CGSS are part of the same thing.

Shri Anurag Jain, secretary of DPIIT they contacted participating representatives virtually and sought their suggestions on how to make the two programs even more effective. He mentioned that India took over the presidency of the G20 this year and thanks to the huge success of the Adhaar, UPI and CoWIN platforms, the chances of developing a global digital infrastructure are much more promising. New technological start-ups are working in this direction. With the exemplary success of Digital India, India is poised to demonstrate to the world the power of an inclusive, citizen-centric innovation framework.

ABOUT SIDBI: Since its establishment in 1990, SIDBI has impacted the lives of citizens from all walks of life through its integrated, innovative and inclusive approach. Whether they are traditional domestic small entrepreneurs, entry-level entrepreneurs or advanced knowledge-based entrepreneurs, SIDBI has directly or indirectly impacted the lives of micro and small enterprises (MSEs) through various credit and development commitments. To learn more, please check: https://www.sidbi.in



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