Govt commits 2nd tranche of Rs 10,000 Cr Fund of Funds for deeptech startups: Piyush Goyal

Union Minister Piyush Goyal has announced a ₹10,000 crore second tranche for deep-tech startups under the Fund of Funds (FoF) scheme. This significant government initiative aims to boost innovation and growth in cutting-edge technological sectors. The FoF scheme invests in venture capital funds that, in turn, support deep-tech startups focusing on areas like AI, quantum computing, and advanced materials. This capital injection underscores the government's commitment to fostering a robust deep-tech ecosystem, enabling startups to scale, conduct R&D, and create high-impact solutions, thereby strengthening India's position as a global technology hub.