29,017 startups recognised till February 26: Piyush Goyal

NEW DELHI: Commerce and industry minister Piyush Goyal on Wednesday told Lok Sabha that 29,017, startups across the country have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) since its inception, as on February 26, 2020.

As on February 18, 2020, SIDBI has committed Rs 3123.20 crore to 47 SEBI registered Alternative Investment Funds (AIFs), he told the Lower House in a written reply.

These funds have raised a corpus fund of Rs 25,728 crore. Further, the AIFs have invested a total of Rs. 3,378.47 crore into 320 startups out of which Rs. 912.91 crore have been drawn from Fund of Funds for Startups. Fund of Funds does not directly invest into startups but provides capital to SEBI-registered AIFs known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments.


“Thus, there is no direct fund allocation from DPIIT to States/UTs under Startup India initiative,” Goyal said.