Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Can Trump wield his big stick?
access_time 22 Nov 2024 10:39 AM GMT
election commmission
access_time 22 Nov 2024 4:02 AM GMT
Champions Trophy tournament
access_time 21 Nov 2024 5:00 AM GMT
The illness in health care
access_time 20 Nov 2024 5:00 AM GMT
The fire in Manipur should be put out
access_time 21 Nov 2024 9:19 AM GMT
America should also be isolated
access_time 18 Nov 2024 11:57 AM GMT
DEEP READ
Munambam Waqf issue decoded
access_time 16 Nov 2024 5:18 PM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Foreign espionage in the UK
access_time 22 Oct 2024 8:38 AM GMT
exit_to_app
Homechevron_rightIndiachevron_rightPM Modi launches 1,000...

PM Modi launches 1,000 crore seed fund to support entrepreneurs

text_fields
bookmark_border
PM Modi launches 1,000 crore seed fund to support entrepreneurs
cancel

Prime Minister Narendra Modi, on Saturday, announced the launch of a 1,000-crore Startup India Seed Fund to financially support startups and budding entrepreneurs. The announcement was made in an online address at the two-day 'Prarambh: Startup India International Summit' which marks the fifth anniversary of Startup India Initiative launched in 2016.

Addressing attendees including entrepreneurs from Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, Modi said, "In order to provide initial capital for startups, the nation is launching a Rs 1,000 crore Startup India Seed Fund. This will help in setting up new startups and promote their growth."

"We are trying to build a startup ecosystem which functions on the 'of the youth, by the youth, for the youth' mantra," he added.

Speaking of the Startup scene in India, Modi said that India is the world's third-largest startup ecosystem with 41,000 startups across IT, health, agriculture and other sectors. While only four startups were part of the unicorn club in 2014, there are over 30 now with 11 startups joining in 2020. These startups, Modi added, are changing the "demographic characteristics of businesses." "The biggest USP of the startup world is its disruption and diversification capacity," he noted.

The Prime Minister added that India's startups must aim to become global giants in their respective service areas in the coming five years. Meanwhile, the government shall help startups raise debt capital in addition to equity capital, he added.

Show Full Article
TAGS:Startup IndiaPM Modi
Next Story