<ul><li>The commerce and industry ministry will allocate a major part of the second Rs 10,000 crore Fund of Funds Scheme or FFS for startups in sectors like new-age technology, artificial intelligence, and machine building.</li><li>The 2016 scheme was set up to catalyse venture capital investments and is operationalised by the Small Industries Development Bank of India (SIDBI).</li><li>The government launched the Startup India initiative in 2016 to build a strong ecosystem for nurturing innovation and promoting startups.</li><li>Over 1,50,000 entities have been recognised as startups, making them eligible for tax and non-tax incentives under the Startup India action plan.</li></ul>

Government To Provide Major Part Of Rs 10,000 Crore Startup Fund To Sectors Like New Age Tech, AI

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