“Farmer Field Schools are playing a huge role in mobilizing local capital in the Indian startup ecosystem,” the Ministry of Commerce and Industry said in a statement.
According to the statement, Dunzo, CureFit, FreshToHome, Jumbotail, Unacademy, Uniphore, Vogo, Zostel and Zetwerk are some of the top startups funded through FFS.
“Collectively, the FFS-backed AIFs have a target group of over Rs 48,000 crore,” the ministry said, adding that Chiratae Ventures, India Quotient, Blume Ventures, IvyCap, Waterbridge, Omnivore, Aavishkaar, JM Financial and Fireside Ventures, were among the leaders. In the field of start-up investment supported under Farmer Field Schools.
The amount committed under the FFS has grown at a compound annual growth rate of more than 21% since the launch of the program, and there was a 100% increase in withdrawal amounts in the first quarter of FY23 compared to the same period last year.
According to the statement, investments in eligible startups are approximately 3.7 times the FFS payment which is well above the two times minimum stipulated under the program.
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