PM Modi announces Rs 1,000 crore ‘Startup India Seed Fund’

PM Modi Addressing the ‘Startup India International Summit’, Modi expressed confidence that the development of the startup will help in job creation.

Prime Minister Narendra Modi on Saturday announced the launch of a Rs 1,000-crore India Startup India Seed Fund ‘to support startups and help budding entrepreneurs pursue innovative ideas. Addressing the ‘Startup India International Summit’, Modi expressed confidence that the development of the startup will help in generating employment and improving the lives of the people of the region.

The Prime Minister said, “To provide initial capital for startups, the nation is starting a Startup India Seed Fund worth a thousand crore rupees. This will help to establish new startups and boost their growth.” Shikhar marked the fifth anniversary of the Startup India initiative launched by Modi on this day in 2016.

Modi said that the government has implemented the Fund of Fund scheme to help startups raise equity capital. He further said the government will also help startups in raising debt capital.

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