Current Affairs – 19 January 2021

PM Modi launches Rs 1,000-crore ‘Startup India Seed Fund’

Prime Minister Narendra Modi launched the “Startup India Seed Fund” of Rs 1,000 crore on January 16, 2021, while addressing the “Prarambh: Startup India International Summit” 2021. This initiative will help create new startups and promote their growth.

About the Startup India Seed Fund:

  • The Startup India Seed Fund would support startups in need of initial capital to start and grow their business and help budding entrepreneurs pursue innovative ideas.
  • The government implemented the Fund of Fund program to help startups raise equity. Going forward, the government will also help startups raise debt capital.

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