HomeBusiness NewsStartup NewsPiyush Goyal: Startup India doesn’t need annual allocation, not many Indian startups have lost unicorn status
Speaking to the media in New Delhi, the commerce minister assured that while a few Indian startups have lost their unicorn status due to the global financial and trade scenario, the government does not play a role in determining the valuations of companies.
Commerce and Industry Minister Piyush Goyal has stated that an annual allocation is no longer necessary for startups, as the operating agency for the Startup India programme, SIDBI, has started receiving returns, with ₹1,600 crore already replenishing its corpus.
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Startup India previously had access to several funds, including the seed fund and fund of funds, for which budget provisions were made earlier. The programme is set to mark its 10th anniversary on January 16. India now boasts the world’s third-largest startup ecosystem, with over 1.5 lakh startups spread across 80% of the country’s districts.
Speaking to the media in New Delhi, the commerce minister assured that while a few Indian startups have lost their unicorn status due to the global financial and trade scenario, the government does not play a role in determining the valuations of compan