NATIONAL SEED FUND
- November 15, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Subject: Economy
Concept:
- The Department for Promotion of Industry and Internal Trade (DPIIT) is working on guidelines for a National Seed Fund that was announced in the Budget for 2020-21 to help startups and budding entrepreneurs.
- Some states and central government departments like Biotechnology Industry Research Assistance Council have their own seed fund scheme but they are small and are not pan-India.
- Most of the Start Up face problem in raising finance or funds in the ideation to the proof of concept stage.
- This fund aims to provide early life funding to support ideation and development of early stage Start-ups.
- With the government participation in the development of start ups , more number of people will be encouraged to become entrepreneurs.