Maharathis are the warriors of India’s innovation journey: Shri Piyush Goyal

Second Fund of Funds for Startups worth ₹10,000 crore approved to boost deep-tech and early-stage innovation

Startup India Desk to be set up to serve as a helpline for startups

Union Minister of Commerce & Industry, Shri Piyush Goyal conferred the ‘Startup Maharathi’ Awards on the concluding day of Startup Mahakumbh 2025 in New Delhi. Addressing a packed audience of entrepreneurs, innovators and ecosystem enablers, the Minister lauded all participants, stating that each one of them is a “Maharathi”—a skilled warrior and vital contributor in India’s startup revolution.

“Maharathi is every one of the 2,400 participants of this grand challenge. Every one of the 3,000 exhibitors at Startup Mahakumbh is on the path to success,” said Shri Goyal, as he acknowledged the immense talent and potential of India’s startup ecosystem.

He encouraged young founders to set ambitious goals and rise beyond the limitations of the present. “The potential you hold will make you a great contributor to India’s journey in this Amrit Kaal. Let the Startup Mahakumbh ignite aspirations that go beyond the current realm of reality,” he added.

Comparing the scale of the event with previous years, the Minister informed that while last year saw around 3,000 visitors, this year the Mahakumbh witnessed a record footfall of 2.3 lakh visitors, underlining India’s exponential growth trajectory in the innovation space.

Shri Goyal also shared that 40% of the applicants for the Maharathi Grand Challenge were from Tier 2 and Tier 3 cities, and many were women-led startups. “Women are taking a lead in India’s development and contributing with great enthusiasm,” he remarked.

The Minister emphasised that the Government is creating an enabling environment for startups through landmark reforms in Ease of Doing Business. “Over 40,000 compliances have been simplified or removed, and many laws have been decriminalized so that startups can work freely and fairly,” he said.

Announcing a key initiative, Shri Goyal revealed that a dedicated Startup India Desk will be set up in the Ministry of Commerce & Industry to serve as a helpline for startups across India, accessible via a simple 4-digit toll-free number in regional languages.

He also said that the Second Fund of Funds for Startups (FFS) with a corpus of ₹10,000 crore, has been approved by Hon’ble Prime Minister Shri Narendra Modi. This year, ₹2,000 crore will be disbursed to SIDBI 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.

“Through this fund, we aim to foster the development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech,” he stated.

The objective is to provide early-stage financial support to budding entrepreneurs who often face challenges in accessing traditional forms of capital. This allocation will empower startups working on disruptive technologies by enabling them to scale prototypes, undertake research and development, and accelerate go-to-market strategies.

The fund will especially focus on startups operating in cutting-edge domains such as artificial intelligence, machine learning, quantum computing, robotics, precision manufacturing, biotech, and semiconductor design, where long gestation periods and high capital requirements often pose hurdles. By mobilising patient capital, the Government aims to build a strong pipeline of indigenous technology solutions that can address national priorities and position India as a global innovation leader.

This initiative reflects the Government’s commitment to nurturing a self-reliant and forward-looking startup ecosystem, where young innovators from every corner of India have equal access to resources and opportunities.

Shri Goyal further urged SIDBI to establish at least one support centre in every state to provide basic infrastructure and shared facilities for early-stage entrepreneurs. Recalling his interaction with a startup that had invested in its own 3D printer due to the lack of shared facilities, the Minister stressed the importance of accessible prototyping resources.

“We must unlock India’s full potential through facilitation, not regulation. The Government is here to support your journey, not control it,” he concluded.

Shri Goyal called upon India’s youth to lead the way in emerging sectors like AI, semiconductors and deep-tech, and shape the nation’s path to Atmanirbhar Bharat.

Fund of Funds to boost early-stage and deep-tech startups through seed allocations and support centres. Approval of a government-backed Fund of Funds to mobilise patient capital for early-stage and seed financing of startups in deep tech domains, with an implementing institution receiving an initial disbursement to channel allocations for seed funding and support of small startups; establishment of a dedicated Startup India Desk as a multilingual toll free helpline; and directives to create state support centres providing shared infrastructure and prototyping facilities alongside regulatory simplification to ease startup compliance.