After attacking start-ups, govt sets up new helpline for them

Bengaluru: Commerce and Industries Minister Piyush Goyal, announced the launch of a Startup India Desk under his ministry, a national helpline for startups across India, as per an official statement late on Saturday.

“Whenever there are government-related challenges, regulatory hurdles, support required with innovations that are not currently within the ambit of India’s regulations and norms, if you are facing situations such as being asked to pay bribes, then call the helpline - for all troubles, of whichever kind,” Goyal said, speaking at the Startup Mahakumbh in Delhi.

Goyal also said that the second Fund of Funds for Startups (FFS) with a corpus of Rs 10,000 crore, had been approved by the Union Cabinet. This year, Rs 2,000 crore will be disbursed to SIDBI (Small Industries Development Bank of India) as the first installment.

A significant portion of the fund will be reserved for seed funding of small startups and to support deep-tech innovation, as per the release.