Prime Minister Narendra Modi announced the launch of Rs 1,000-crore 'Startup India Seed Fund' while addressing the 'Prarambh: Startup India International Summit'. The initiative is to support budding businesses and entrepreneurs to pursue their innovative startup ideas. "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", said PM.
Modi added that the government shall also startups in raising their debt capital. India is home to the world's third-largest startup ecosystem and has helped numerous entrepreneurs to fulfil their innovative startup dreams, shared the PM. He took pride over the growth of startups in India while sharing that in 2014, there were only four startups in the unicorn club but now there are more than 30.
With PTI inputs