Govt Of India Will Give Rs 1000 Crore Seed Fund To New Entrepreneurs, Startups; Asks Youth To Create Jobs

In an international summit via video conferencing on Saturday, Prime Minister Narendra Modi interacted with founders of start-ups from across the country. Modi said that they had the “capability to change the future” and hence lauded them for the same.

Pointing out the change of attitudes of people towards entrepreneurship he said that “Earlier, on hearing about a startup people used to ask ‘why don’t you do a job?’. But now people say why not create a startup instead of doing a job”.

This is the age of digital revolution and new age innovation, he added. Also he said that it is now the “demand of the time that future entrepreneurs should be from Asian countries.” “Future technology should come from Asian labs”.

The demographic character of business has been changed by these startups, he noted.

He added that “India is one of the biggest startup ecosystems in the world. More than 41,000 startups incl nearly 5,700 startups in IT sector, 3,600 in the health sector and 1,700 startups in agriculture are engaged in work. These startups are changing the demographic character of business”.

“Start-up India Seed Fund”:-

There was an announcement in the event called “start-up India seed fund”. Under the same, the government will give one thousand crore rupees to new entrepreneurs as sup

While launching the policy Modi said that they were launching 1,000 crore Start-Up India Seed Fund to help new startups grow in the country. ‘Of the youth, by the youth, for the youth’ is the mantra on base of which these startup system is based.

“Startups powered India’s drive for being self-reliant amid the pandemic when major companies were thinking about survival”, said PM when talking of self-reliance.

From January 15-16, the Department for Promotion of Industry and Internal Trade of the Union ministry of commerce and industry are organizing a startup India.

Saturday is the second and final day of the summit that aims to reimagine the importance of collaboration between countries to further startup ecosystems.

About The Event :-

The first day of the event yesterday brought some of the world’s leading minds on one platform and enabled government and international organizations to share their views to ignite the minds of young innovators and entrepreneurs.

The summit was yesterday inaugurated by Piyush Goyal, minister of commerce and industry.

The event saw participation of renowned stakeholders from startup communities who engaged in multilateral discussions and showcased the best of their innovations.

Over 1,20,000 registrations were seen on the first day and witnessed the participation of renowned stakeholders from startup communities who engaged in multilateral discussions and showcased the best of their innovations.

While promoting ease of doing business for global venture funds. A closed-door roundtable was also hosted with emphasis on internationalization for startups and mobilizing global capital for Indian startups.