PM announces Rs 1,000-crore ‘Startup India Seed Fund’
Prime Minister of India Shri Narendra Modi Announced the launch of a 1000 crore ‘Startup India Seed Fund’ to support start-ups And give them initial money to start and grow their start-up which will help the entrepreneurs in achieving their dream.
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| The Prime Minister of India Narendra Modi launched a ₹1,000 crore startup seed fund at the Startup India International Summit – Parambh. |
Prime Minister Narendra 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,” at Prarambh (startup India International Summit) Organised by DPIIT.
He Further Added the government will also help startups raise debt capital.
He told that the startups are not limited to only big cities and about 40 percent of Startup are from tier 2 and tier 3 cities.
He told that there were only 4 Startups in 2014 in the unicorn club, but today they are more than 30.
11 startups entered into the unicorn club in 2020 only and India has 3rd biggest start-up ecosystem. Around 41000 startups are there in India,5700 of which are in the It sector and 3600 are in the health sector and 1700 are in Agriculture Sector.
Local Startups have been opportunity to participate in government tenders at par with big Companies through the GEM portal.
He further said about 8,000 startups have registered on the GEM portal so far and done a business of nearly Rs 2,300 crore. which is a positive sign for the bright future of India.
Prime Minister Modi said ” We are trying to Create a start-up system which is based on the mantra ‘of the youth, by the youth, for the youth’.
He further added “Startups India is completing 5 years on the very same day that India Kickstarted its biggest vaccination drive. The aim for the next 5 years should be that our startup becomes global giant.”
The government will work more harder to help the Startups and will work together to make the future bright of our nation.
Good luck!
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Read – PM Modi announces ₹1,000 crores Indian ‘startups seed funding