DPIIT Hosts High-Level Meeting With AIFs To Enhance Start-Up Ecosystem

ENA Sectors 2025-01-13 14:00:06 New Delhi, Jan 13 (KNN) Ahead of the Union Budget, the Department for Promotion of Industry and Internal Trade (DPIIT) convened a crucial meeting with alternate investment funds (AIFs) on Friday to explore strategies for enhancing start-up funding across India. The high-level consultation, which drew participation from over 70 AIFs, primarily focused on capital mobilisation initiatives and expanding funding opportunities for start-ups in tier-2 and tier-3 cities, according to a senior government official. Reports indicate that AIFs have already pledged investments totalling Rs 80,000 crore to support start-ups, with Rs 20,000 crore already deployed. These investments are being facilitated through the industry department's Fund of Funds Scheme (FFS), which provides backing to SEBI-registered AIFs that subsequently invest in start-up ventures. DPIIT Secretary Amardeep Singh Bhatia highlighted the government's push for corporate-start-up collaboration, encouraging large companies to partner with start-ups for innovative problem-solving rather than expanding internal resources. The initiative aims to foster entrepreneurship while helping established businesses address operational challenges efficiently. Bhatia also noted that the July abolition of the angel tax has yielded positive results, triggering a reverse flipping phenomenon where start-ups are returning to register their operations in India. Furthermore, the DPIIT is actively working to strengthen connections between Indian start-ups and global markets, with a particular focus on enabling domestic start-ups to provide solutions for international companies' operational challenges. (KNN Bureau) 40617 https://knnindia.co.in/news/newsdetails/sectors/dpiit-hosts-high-level-meeting-with-aifs-to-enhance-start-up-ecosystem 2025-01-13 14:00:06 knnindia.co.in DPIIT Hosts High-Level Meeting With AIFs To Enhance Start-Up Ecosystem