New Delhi: Prime Minister Narendra Modi has announced a Rs 1,000 crore fund to inspire startups and emerging entrepreneurs to pursue innovative business ideas. It is called the ‘Startup India Seed Fund’. The announcement was made by the Prime Minister while inaugurating the Startup India International Summit. Modi said the growth of startups will help to create new jobs and improve people’s lives.
Modi said the Rs 1,000 crore Startup India Seed Fund was set up to provide start-ups with the necessary funding. Modi said this would help new startups to grow and promote their growth. “We are launching a ?1,000 crore startup India seed fund to help new startups grow in the country. We are trying to create a startup system that is based on the mantra ‘of the youth, by the youth, for the youth,” Modi said at Startup India’s international summit, Prarambh, 2021.