Scholarship
Fund of Funds for Startups(FFS)
Overview
About FFS
The Fund of Funds for Startups (FFS) is a central government scheme announced under the Startup India Action Plan, which the Prime Minister unveiled on 16 January 2016. The Union Cabinet approved it later that year with a corpus of INR 10,000 crore. The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, is the monitoring department, and the Small Industries Development Bank of India (SIDBI) operates the fund on its behalf.
FFS does not put money into startups directly. Instead, SIDBI commits capital to SEBI-registered Alternative Investment Funds (Categories I and II), which then invest in startups. Each participating fund agrees to invest at least twice the amount it draws from FFS into startups, so the government contribution is designed to pull in a larger pool of private capital.
The benefit is financial and reaches startups indirectly, through the AIFs that FFS backs. Eligible recipients are startups recognised by DPIIT under the Startup India definition. If you run a DPIIT-recognised startup, this is not a scheme you apply to directly. The capital reaches you only if one of the SEBI-registered funds that SIDBI supports chooses to invest in your company.
Sources: SIDBI Venture Capital – Fund of Funds for Startups (FFS) · SIDBI Annual Report 2021–22 – Fund of Funds · IMPRI – Policy Review of the Fund of Funds Initiative (2016)
Who runs it
Provider
Ministry Of Commerce And Industry
Central Government
Department For Promotion Of Industry And Internal Trade · SIDBI
At a glance
Key details
| Level | Central |
| Scheme type | Centrally Sponsored Scheme |
| Category | Business & Entrepreneurship, Banking,Financial Services and Insurance, Science, IT & Communications, Agriculture,Rural & Environment, Health & Wellness, Education & Learning |
| Beneficiaries | Business Entity, Industries |
| Benefit type | Cash |
| Application mode | Online |
Calendar
Important dates
Across all open application cycles.
| Cycle | Stage | Date |
|---|---|---|
| Current | Applications open | 2016-01-16 |
Who can apply
Eligibility criteria
| Under FFS support is provided to AIFs. Below are the key eligibility criteria for applying for contribution under FFS | |
| Funds are registered as either Category I or II Alternative Investment Funds (AIF) with Securities and Exchange Board of India (SEBI) or have applied for the same with SEBI. | |
| Funds with corpus of less than ₹1,000 crores. | |
| Funds investment strategy to include investment in startups (Startup as defined as per the Gazette Notification G.S.R.127(E) dt. 19/02/2019 issued by Government of India and as amended from time to time). | |
| Fund to agree to invest at least twice the amount of contribution sought from FFS into Startups. (For instance, if contribution sought is ₹100 crore under FFS, Fund should invest at least ₹ 200 crore in Startups). | |
| Fund Manager / team should have prior track record in Fund management or prior investment experience. All the Key members of the Fund should have CIBIL score more than 650 (Key member is defined as Director, Sponsor and Senior Personnel of the Fund). | |
| All the Key members should be legally eligible to be a Director or in a Managerial position under Indian law (i.e., not barred to be a Director or in a Managerial position under Indian Law). | |
| Startup should be up to 10 years old from the date of incorporation. | |
| Must be DPIIT-recognized. | |
| Should be working on innovation, development, or improvement of products, processes, or services. | |
| Funding is indirect, through SEBI-registered AIFs supported by SIDBI. |
What you get
Award & benefits
- Equity/ equity linked instruments-based funding to startups.
- Mentorship through experienced AIF managers along with market connects, governance structure.
- Mobilisation of capital, attracting private investors and mobilising larger capital for startups.
- Support for innovation-driven enterprises, fostering job creation and economic growth.
- Strengthens India’s venture capital ecosystem and promotes entrepreneurship.
- AIFs must invest at least twice SIDBI’s contribution creating a multiplier effect, scheme helped mobilise more than ₹90,000 crore through AIF.
What to prepare
Documents required
Step by step
How to apply
- 1Apply online
See the official links below for the application portal.
Source
Official links
Questions
FFS – FAQ
Disclaimer
Scheme details are compiled from myScheme, the Government of India’s official scheme-discovery platform, and are reproduced without alteration. Amounts, deadlines and eligibility change between cycles — always confirm on the official links above before applying. Expertie does not process applications or charge fees.