Updated Jan 17, 2021 | 07:24 IST
The meeting was chaired by Union Minister Piyush Goyal, Minister of Commerce and Industry, and attended by DPIIT officials, major Indian regulators, policymakers, along with Global VC funds Union Minister Piyush Goyal | Photo Credit: Twitter
New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry held a roundtable meeting with global funds on the day 1 of Prarambh, Startup India International Summit on January 15, 2021.
The saw participation of around 70 venture capital (VC) fund investors from United States, Japan, Korea, Singapore, and some global funds domiciled in India. These funds have a total AUM to the north of $41 billion in the Indian region and Global AUM of more than $143 billion.
An Indian startup ecosystem of the youth, for the youth, by the youth
At the Prarambh: Startup India International Summit, 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.
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If you re a young startup (and a very early stage one at that), you have good reason to cheer!
“We are trying to create a startup ecosystem that is based on the principle ‘of the youth, by the youth, for the youth,” emphasised PM Modi.
Prime Minister Narendra Modi
He lauded startups for powering India’s drive to be self-reliant amidst the COVID-19 pandemic. Startups, Modi said, are changing the very “demographic character of business.”
3D printers that can continuously print carbon fibre parts, smart toilets that use the Internet of Things (IoT) technology and rockets for space exploration, were some of the innovative technologies on display at ‘Prarambh: Startup India International Summit.’ The other innovations included apps that improve the lives of the visually impaired, mobile brick making machines, jackfruit flour that helps control diabetes and biodegradable personal protective equipment (PPE) suit that can be recycled into other products. These startups pitched their products and services to Prime Minister Narendra Modi and an audience of top business executives, government officials, and investors. “The energy and dreams of youth are huge. You all are excellent examples of that. This confidence should remain as it is,” Modi told the startup founders. “Think about the range of startups. These include carbon 3D printing, satellite launch vehicle, e-toilet, biodegradable PPE kits and technology
January 17, 2021
Start-ups found opportunity in adversity during the pandemic and catered to diverse needs
Prime Minister Narendra Modi has said that India will launch a ‘Startup India Seed Fund’ with a ₹1,000-crore corpus to help start-ups get seed money for starting their ventures and help them grow.
In the future, the government will also help start-ups raise debt capital through guarantees, the PM said speaking at the ‘Prarambh: Start-up India International Summit’ on Saturday.
The two-day summit, marking the fifth anniversary of the Start-up India initiative, brought together innovators, entrepreneurs, investors, regulators, industry leaders, and academicians from India and across the world including BIMSTEC countries.
PM Modi announces 1000 Cr start up seed to aid upcoming entrepreneurs PM Modi announces 1000 Cr start up seed to aid upcoming entrepreneurs Prime Minister Narendra Modi on Saturday announced that the government will be investing Rs 1000 crore as a seed fund to support startups and upcoming entrepreneurs. The seed fund would be aiding the business visionaries to develop into big companies.
PM Modi
Prime Minister Narendra Modi on Saturday announced that the government will be investing Rs 1000 crore as a part of the Startup India Seed Fund to enable upcoming entrepreneurs pursue their dreams. The fund will enable the “setting up of new startups and promote their growth”, said PM Modi while addressing the Prarambh: Startup India International Summit on the fifth anniversary of Startup India, an initiative launched by PM Modi in 2016.