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PM announces the launch of Rs 1,000-cr ‘Startup India Seed Fund’

Prime Minister Narendra Modi announced the launch of Rs 1,000-crore ‘Startup India Seed Fund’ to support startups and help budding entrepreneurs pursue innovative ideas. Addressing the ‘Prarambh: Startup India International Summit’, Modi said he has confidence that the growth of startups will help in generating jobs and improving lives of people in the region.

“Today over 41,000 startups in the country are engaged in some campaign or the other. Out of these, over 5,700 are in the IT sector, over 3,600 startups are in the health sector, and nearly 1,700 startups are in the agriculture sector”, said the Prime Minister.

Modi also said that startups are getting opportunity at par with large businesses in government tenders on the GeM portal. Till now, nearly 8,000 startups have registered on the GeM portal and carried out business worth nearly Rs 2,300 crore, he said adding that the total business through GeM portal is touching nearly Rs 80,000 crore.

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