Government Invests ₹257.77 Crore in Electronics Development Fund to Support 128 Startups
New Delhi, March 27 – The government has invested ₹257.77 crore under the Electronics Development Fund (EDF) in eight specialized “Daughter funds”, which have collectively provided financial support to 128 startups and companies, Parliament was informed on Friday.About the Electronics Development Fund (EDF)
- Established as a Fund of Funds, the EDF channels investment into Daughter funds that support emerging technology companies.
- Focus areas include electronics, nano-electronics, and information technology (IT).
- The fund provides risk capital to promote innovation and growth in the tech ecosystem.
Key Investment Details
- Total Investments by Daughter Funds: ₹1,335.77 crore in 128 companies/startups
- Employment Generated: Over 22,700 jobs
- Intellectual Property Created/Acquired: More than 300 patents and IPs
- Fund Manager: Canbank Venture Capital Funds Ltd (CVCFL)
- Anchor Investor: Ministry of Electronics and Information Technology
Geographical Distribution of Supported Firms
| City | Number of Companies |
|---|---|
| Bangalore | 88 |
| Hyderabad | 7 |
| Kerala | 7 |
| Delhi | 6 |
| Chennai | 6 |
| Mumbai | 4 |
| Pune | 4 |
| Gurgaon | 2 |
| Faridabad | 1 |
| Jaipur | 1 |
| Kolkata | 1 |
| Noida | 1 |
Significance
- Strengthens India’s electronics and IT startup ecosystem
- Encourages innovation, IP creation, and employment generation
- Promotes regional startup development across 12 cities
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