Govt Alters its Policy for Startup Funds
The government finally decided on Wednesday to alter its Fund of Funds (FFS) for startups to ensure better utilization of the provided resources.
An initial corpus of Rs 1,000 crore was set up, but the tough rules had made their disbursal difficult. Realizing the difficult situations it created for startups, it is now decided to allow Alternate Investment Funds (AIFs) supported by FFS to invest at least twice the amount of contribution received from FFS in qualified startups. (more…)