India govt invests Rs 211 crore into space sector under 'fund of funds for startups' scheme: Goyal

Goyal wrote on X: "With the Fund of Funds for Startups (FFS) Scheme under @StartupIndia initiative, our government is fuelling bold ideas by backing homegrown innovators in the field of space tech with critical resources."

He further said: "This is propelling cutting-edge technologies and making India a rising space power globally."

The Minister said: "Guided by PM @NarendraModiji's vision, our focus is on innovation, self-reliance & youth-driven entrepreneurship to leverage space not only for exploration, but also for transformation."

The Government with an intent to build a strong ecosystem for nurturing innovation, startups and encouraging investments launched the Startup India initiative on 16th January 2016.

Under the Startup India initiative, the Government is implementing three flagship Schemes, namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) to support startups at various stages of their business cycle.

FFS has been established to catalyze venture capital investments and is operationalized by Small Industries Development Bank of India (SIDBI), which provides capital to Securities and Exchange Board of India (SEBI)-registered Alternative Investment Funds (AIFs) which in turn invest in startups.

AIFs supported under FFS are required to invest at least two times of the amount committed under FFS in startups. As on 30th June 2025, net commitments of Rs. 9,994 crore have been made to 141 AIFs supported under the Scheme.