Question: PM Modi on 16th January during the ‘Prarambh: Startup India International Summit’ announced a new seed fund for startups in India. What is the total corpus of the fund?
a) 100 crore
b) 1500 crore
c) 1000 crore
d) none of the above
Answer: c)
Facts
- Prime Minister Narendra Modi on January 16, 2021 announced a new ‘Startup India Seed Fund’ worth Rs 1,000 crore for startups to provide them with initial capital to start and grow their business.
- India is home to the world’s third largest startup ecosystem which has helped several budding entrepreneurs to come up with innovative technologies and become big corporations.
- About 40 per cent of budding entrepreneurs are coming from tier-II and -III cities of India .
- 11 Indian startups entered the unicorn club in 2020.
- There are over 41000 startups in India.
By – Kameshwar Shukla