Key Points:
- Prime Minister Narendra Modi, on January 16, interacted with the founders of Start-ups from across the country and the world at the ‘Prarambh: Startup India International Summit’.
- “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,” the Prime Minister said.
- The new seed fund for startups comes after the Ministry of Electronics and Information Technology had earlier last year initiated a similar fund to identify startups and give them financial help.
Prime Minister Narendra Modi, on January 16, interacted with the founders of Start-ups from across the country and the world at the ‘Prarambh: Startup India International Summit’. The Prime Minister attended the program via video conferencing on Saturday. The summit marked the fifth anniversary of the Startup India initiative launched by Modi on this day in 2016.
At ‘Prarambh: #StartUpIndia International Summit.’ Watch. https://t.co/VgvYUrLi7q
— Narendra Modi (@narendramodi) January 16, 2021
Applauding the founders by saying that they have the ‘capability to change the future,’ PM Modi radiated confidence that the growth of startups will help in generating jobs and improving lives of people in the region. In order to support Indian start-ups, Narendra Modi rolled out a Rs. 1000 crore plan during the address. “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,” the Prime Minister said.
“Earlier, on hearing about a startup people used to ask ‘why don’t you do a job?’. But now people say why not create a start-up instead of doing a job,” PM Modi said while also mentioning that the demand for new start-ups should be from the Asian countries.
Our Start-up eco-system is a major force in fulfilling the dream of an Aatmanirbhar Bharat. #StartUpIndia pic.twitter.com/Kox3nHasom
— Narendra Modi (@narendramodi) January 16, 2021
Addressing, Modi “Our startups should lead in futuristic technologies. If all BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) countries push for this, a large population would benefit from this,” the Prime Minister added.
“Future technology should come from Asian labs,” the PM said. PM Modi further noted that “these startups are changing the demographic character of business.”
“India is one of the biggest startup ecosystems in the world. More than 41,000 startups including nearly 5,700 startups in IT sector, 3,600 in the health sector and 1,700 startups in agriculture are engaged in work. These startups are changing the demographic character of business,” PM Modi said.
USP of India’s Start-up eco-system:
Disruption
Diversification#StartUpIndia pic.twitter.com/TjWYIplmjD
— Narendra Modi (@narendramodi) January 16, 2021
The new seed fund for startups comes after the Ministry of Electronics and Information Technology had earlier last year initiated a similar fund to identify startups and give them financial help.
PM Modi also interacted with the founders of startups from BIMSTEC nations, which include Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand.
