DPIIT Unveils ₹10,000 Cr Fund of Funds For Entrepreneurs
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In a significant boost to India’s innovation ecosystem, the Government of India has decided to designate a ₹10,000 crore Fund of Funds for Startups, reaffirming its commitment to strengthening entrepreneurship and scaling high-potential ventures across the country. The announcement was made by Shri Sanjiv Singh, Joint Secretary, DPIIT, Government of India, at the FICCI Mercedes-Benz India Bharat Innovation & Business Ideas Challenge Programme held in New Delhi on 13 February 2026.
The national initiative, aimed at supporting high-potential start-ups in manufacturing, sustainability, decarbonisation, electric mobility and education, concluded with the selection of winners from 32 shortlisted finalists. Announcing the ₹10,000 crore Fund of Funds, Shri Sanjiv Singh, Joint Secretary, DPIIT, Government of India, stated that the decision reflects the scale and maturity of India’s start-up ecosystem. He noted that when the Startup India movement began in 2016, there were around 400 recognised start-ups and even modest funding support was considered significant. Today, the designation of a ₹10,000 crore fund demonstrates the government’s confidence in India’s position as a global leader in innovation and entrepreneurship.
On the occasion, Shri Sanjiv Singh also handed over cheques of ₹30 lakh each to seven winning start-ups, underscoring the government’s continued push to foster innovation, entrepreneurship and strong industry–government collaboration. The announcement was made at the Award Ceremony of the FICCI Mercedes-Benz India Bharat Innovation & Business Ideas Challenge Programme, where six winners were selected from the final 32 shortlisted start-ups.
Shri Singh emphasised that success in the start-up ecosystem is never overnight but is built on years of perseverance, learning and resilience. Drawing parallels with India’s long history of enterprise and innovation, he said the country’s entrepreneurial spirit has deep civilizational roots and today’s founders are carrying that legacy forward. He added that while capital is important, sustainable growth, governance, discipline and value creation are equally critical for building enduring enterprises.
The national initiative, launched in December 2025 by FICCI in partnership with Mercedes-Benz India, supports high-potential start-ups across manufacturing, sustainability, decarbonisation, electric mobility and education. After a rigorous evaluation process, the winners of the 2026 edition were announced as CarbonM Fuelmax Technology Private Limited, Exobot, AmpCycle, Dexsent Robotics Private Limited, CALLX RINGERS PRIVATE LIMITED and X Able.
Addressing the gathering, Mr. Vyankatesh Kulkarni, Executive Director & Head of Operations, Mercedes-Benz India, said that innovation in India is no longer a trend but a national strength. He highlighted that through this programme, Mercedes-Benz India aims to contribute meaningfully to India’s start-up ecosystem by encouraging innovation, collaboration and responsible entrepreneurship.
He noted that the 32 shortlisted start-ups demonstrated exceptional curiosity, courage and commitment to solving real-world challenges. Their ideas, he said, have the potential to influence industries and strengthen India’s global presence in technology and innovation. He also reflected on Mercedes-Benz’s own journey, which began as a start-up over 140 years ago, reaffirming the company’s continued commitment to shaping the future of mobility through collaboration with emerging innovators.
The ceremony brought together policymakers, industry leaders, investors and entrepreneurs, reinforcing the importance of public-private partnerships in accelerating India’s innovation journey. As India advances toward the vision of Viksit Bharat @2047, initiatives like the Bharat Innovation & Business Ideas Challenge Programme and the newly designated ₹10,000 crore Fund of Funds are expected to play a pivotal role in driving economic growth, technological leadership and sustainable development.
