The founders of new-age companies should enjoy the equity they hold in their companies and instead take grant-based funding for their startups, so they do not dilute their stake, Union Commerce Minister Piyush Goyal said while speaking at News18’s Rising Bharat Summit in New Delhi.
“We have the second edition of fund of funds (FoF) of Rs 10,000 crore and I have asked SIDBI to promote more of the tech, deeptech, AI-based startups. (Founders should) take more grant-based funding, and less equity,” Goyal said while speaking at the summit.
“Allow founders to enjoy (their) equity. If they do well, allow them to claw back their equity,” he added.
Recently, Goyal kicked up a storm among startups, saying Indian firms need to aspire bigger and there has been a slide in the ecosystem in comparison with the Chinese companies.
Piyush Goyal reacts to criticism over startups remark, terms it 'unfortunate'
“Should we aspire to be, or are we going to be happy being delivery boys and girls?” Goyal asked at Startup Mahakumbh 2025 in New Delhi on April 3. Goyal highlighted the stark contrast between the two countries, arguing that India’s startup space was too focused on food delivery and gig work.
On April 9, however, Goyal clarified his stance. “My comment on startups was not a truth bomb, it was an appeal,” he said. Goyal added that India has immense potential and its founders should aim to reach greater heights.
“I was only showing them (founders) the mirror and encouraging them to dream big,” Goyal said at the Rising Bharat Summit in New Delhi.
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