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'Start-up India seed fund' to support new entrepreneurs-PM Modi

'Start-up India seed fund' to support new entrepreneurs-PM Modi

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. Prime Minister Narendra Modi said this on Saturday during an interaction with founders of start-ups from across the country and the world as he addressed an international summit via video conferencing. Modi lauded the founders and said they have the "capability to change the future".

The Prime Minister also announced the launching  of a Rs1,000 crore Start-Up India Seed Fund to help new startups grow in the country. We are trying to create a startup system which is based on the mantra 'of the youth, by the youth, for the youth,'" PM Modi said. The Prarambh: Startup India International Summit is being organised by the Department for Promotion of Industry and Internal Trade of the Union ministry of commerce and industry.

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