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PM: India Seed Fund Scheme of Rs 1000 Cr for startups

Prime Minister Narendra Modi has said that Startups have the potential to change the future of India. Speaking after interacting with Startups during Prarambh: StartUpIndia International Summit through video conferencing this evening, Mr Modi said, the confidence that all Startups have, should never fade away and always remain. He said, the energy of our youth, their passion to write their own future invents new possibilities for the whole world.

The Prime Minister asserted that this century is the century of digital revolution and new age innovation. He said, this century is also called the century of Asia. Mr Modi said, it is the need of the hour that the technologies of the future come out of the lab of Asia and the entrepreneurs of the future should be prepared from here. He said, today, the youth and entrepreneurs from BIMSTEC countries are joining this Summit with the experiences that all have, from the fight against Corona to the making of the vaccine.

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The Prime Minister said, every state is supporting startups and the StartUp India wave has spread to Tier 2 and Tier 3 cities. He said, agriculture has many opportunites for Start Up India. Mr Modi said, today, thanks to Digital India, money goes straight to the banks of crores of Indians. He said, through DBT and GeM, startups and research sector of our nation are getting a big boost.

The Prime Minister stressed on the need to set the goal for the future that the startups and unicorns become global giants. To spur entrepreneurship across the Nation, Mr Modi announced Startup India Seed Fund Scheme to provide financial assistance to startups for Proof of Concept, prototype development, product trials, market-entry, and commercialization.

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