Startup India Seed Fund
- January 17, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Startup India Seed Fund
Subject: Economy
Context: The government will launch a Rs 1,000-crore seed fund for start-ups, called Start-up India Seed Fund. It was announced at the “Prarambh: Start-up India International Summit”.
Concept:
- A one thousand crore rupees seed money for start ups under the Startup India Seed Fund.
- It will help in starting and growing new startups.
- It will complement Fund of funds scheme that is already helping startups raising equity capital.
- Similar incentive was seen in budget of Rs 95.03 crore being earmarked for the programme named ‘Chunauti’, to be spent over a period of three years.
About Prarambh: Start-up India International Summit
- First start-up conclave of BIMSTEC nation was organized.
- It seeks to reap vibrant energy in the start-up space in BIMSTEC counties like Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
- It will be based on collaboration and taking responsibility to come together.