A Rundown Of The Important Developments In Startup Policy Frameworks: July Edition.
Ever since the Centre launched the Fund of Funds for Startups (FFS) with a corpus of $1.5 Bn (INR 10K Cr) in January 2016, the DIPP (Department of Industrial Policy and Promotion) has been aiming to disburse the amount to startups latest by 2025. However, the funding disbursal has actually been coming down with every passing year.
So far, overall 128 startups have received a total funding of around $87.8 Mn (INR 600.5 Cr). However, instead of accelerating the fund disbursal, the DIPP’s allocation to SIDBI from the Funds of Funds for Startups came down to $14.6 Mn (INR 100 Cr) in FY17 from $73.1 Mn (INR 500 Cr) in the previous fiscal.
The number of startup beneficiaries under the Fund of Funds Scheme also came down to 58 in 2017-18 from 62 in the previous fiscal, said minister of state for commerce and industry C R Chaudhary in a written reply to the Rajya Sabha.
But where central schemes have slowed down in certain areas, Indian states have been furthering the Centre’s Startup India mission. They have been working hard to grow and promote their respective startup ecosystems with a view to climbing up the ladder of the state startup ranking framework defined by the Department of Industrial Policy and Promotion (DIPP).
Even as the country eagerly awaits the startup ranking results, the DIPP, along with the World Bank, recently released the Ease of Doing Business Index. Andhra Pradesh emerged as the winner, Gujarat, which once scored the top rank in 2015, has gone down to the 5th position.
Ever since the Centre launched the Fund of Funds for Startups (FFS) with a corpus of $1.5 Bn (INR 10K Cr) in January 2016, the DIPP (Department of Industrial Policy and Promotion) has been aiming to disburse the amount to startups latest by 2025. However, the funding disbursal has actually been coming down with every passing year.
So far, overall 128 startups have received a total funding of around $87.8 Mn (INR 600.5 Cr). However, instead of accelerating the fund disbursal, the DIPP’s allocation to SIDBI from the Funds of Funds for Startups came down to $14.6 Mn (INR 100 Cr) in FY17 from $73.1 Mn (INR 500 Cr) in the previous fiscal.
The number of startup beneficiaries under the Fund of Funds Scheme also came down to 58 in 2017-18 from 62 in the previous fiscal, said minister of state for commerce and industry C R Chaudhary in a written reply to the Rajya Sabha.
But where central schemes have slowed down in certain areas, Indian states have been furthering the Centre’s Startup India mission. They have been working hard to grow and promote their respective startup ecosystems with a view to climbing up the ladder of the state startup ranking framework defined by the Department of Industrial Policy and Promotion (DIPP).
Even as the country eagerly awaits the startup ranking results, the DIPP, along with the World Bank, recently released the Ease of Doing Business Index. Andhra Pradesh emerged as the winner, Gujarat, which once scored the top rank in 2015, has gone down to the 5th position.
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