Prime Minister Narendra Modi has recently announced the launch of the Startup India Seed Fund. It will be a Rs 1,000 crore fund that will help startups and budding entrepreneurs. This was announced by Prime Minister Modi at the “Start: Startup India International Summit”. The Summit also completed 5 years of the Startup India program. Startup India campaign was started by PM Modi in the year 2016.
The summit was organized by DPIIT (Department of Industry and Internal Trade Promotion). On this occasion, PM Modi said that India is the third-largest startup ecosystem in the world with 41,000 startups. In 2014, India had just 4 startups in the Unicorn Club and now the number has gone up to more than 30. The Government of India will now help startups to increase debt capital. So far, more than 8,000 startups have been registered with the Government e-Marketplace (GeM). Out of the total turnover of Rs 80,000 crore, these startups have done the business of Rs 2,300 crore through the GeM portal.
During this summit, PM Modi also launched a dedicated television show called “Startup Champions”. The show will be telecast on Doordarshan. Addressing the countries of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) in this meeting, PM Modi said that the government is taking all necessary steps to ensure that the country There is no dearth of funds for startups in India.