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The commerce and industry ministry will allocate a major part of the second Rs 10,000 crore Fund of Funds Scheme (FFS) for startups to budding entrepreneurs in sectors such as new-age technology, artificial intelligence, and machine building, an official said. In the Budget, the government announced a new FFS with a corpus of Rs 10,000 crore. In 2016 also, the government had launched a similar scheme.
“We are going to dedicate a lot of this Rs 10,000 crore fund of funds largely for the new age tech, AI, and machine building,” the official said.
The…
