Head administrator Narendra Modi on Saturday declared the dispatch of Rs 1,000-crore 'Startup India Seed Fund' to help new businesses and help growing business people seek after inventive thoughts.
Tending to the 'Prarambh: Startup India International Summit', Modi radiated certainty that the development of new businesses will help in producing occupations and improving existences of individuals in the district.
"To give beginning money to new businesses, the country is dispatching a Rs 1,000 crore Startup India Seed Fund. This will help in setting up new businesses and advance their development," the Prime Minister said. The highest point denoted the fifth commemoration of the Startup India activity dispatched by Modi on this day in 2016.
The public authority, Modi added, has been executing the Fund of Fund Scheme to help new businesses raise value capital. Going ahead, the public authority will likewise help new businesses in raising obligation capital, he added. Going ahead, the public authority will likewise help new companies in raising obligation capital, he added.
India, the Prime Minister stated, is home to the world's third biggest startup environment which has assisted a few sprouting business visionaries with thinking of creative advances and become large enterprises. He further said that new businesses in India are not restricted to huge urban areas and around 40% of such growing business visionaries are coming from level II and - III urban areas.
Modi said in 2014 there were just four new businesses in the unicorn club, yet today there are more than 30. He educated that 11 new businesses entered the unicorn club in 2020 itself. India is the world's third biggest startup environment. There are more than 41,000 new companies in the nation.