The Small Industries Development Bank of India (SIDBI) has released the CRISIL's impact assessment of the Fund of Funds for Startups (FFS) study report named “Prabhaav”.
Banking & Finance
The Small Industries Development Bank of India (SIDBI) has released the CRISIL's impact assessment of the Fund of Funds for Startups (FFS) study report named “Prabhaav”. It assesses the impact of the Fund of Funds for Start-ups (FFS). Funds of Fund for Start Ups (FFS) under the Start Up India Action Plan launched by Hon’ble Prime Minister Shri Narendra Modi in 2016, is one of the flagship programmes of DPIIT, Government of India. The scheme is being managed by SIDBI on behalf of, and under the overall guidance and direction of DPIIT. The scheme has already catalysed investments to the tune of ~4x of the amount drawn with ₹17,534 crore invested in 938 unique startups. Thus, the scheme resulted in significant multiplier effect, promoting enhanced capital flow into this segment. While FFS largely focusses on early-stage funding in young companies, as many as 18 of its startups have already become unicorns.
Implemented with emphasis on diversity & inclusiveness, after launch of FFS, 129 startups beyond Tier 1 cities have received investments aggregating â‚ą1,590 crore.
Small Industries Development Bank of India (SIDBI)
Founded- 2 April 1990; Headquarters- Lucknow, Uttar Pradesh
Chairman and MD- Sivasubramanian Ramann
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