PM Narendra Modi announces Rs 1,000-crore startup seed fund.
                     PM Narendra Modi 
announces Rs 1,000-
crore startup seed 
fund
INTRODUCTION
The government will 
launch a Rs 1,000-crore 
seed fund for startups, 
called Startup India 
Seed Fund, which will 
help startups with the 
initial capital for growth 
and operations, Prime 
Minister Narendra Modi 
said on Saturday.
Source: indianexpress.com
STARTUP ECOSYSTEM
• The government will 
provide guarantees to 
help startups raise 
debt-capital. 
• Government is trying 
to build a startup 
ecosystem which 
functions on the ‘of the 
youth, by the youth, 
for the youth’ mantra
Source: indianexpress.com
TARGET
• Modi said the target for 
India’s startups over 
the next five years 
should be to become 
global giants in their 
respective service 
areas.
Source: indianexpress.com
FUTURISTIC TECHNOLOGIES
• India’s startups should 
lead in futuristic 
technologies. 
• If all BIMSTEC (Bay of 
Bengal Initiative for 
Multi-Sectoral 
Technical and 
Economic Cooperation) 
countries push for this, 
a large population 
would benefit from 
this.
Source: indianexpress.com
BIMSTEC NATIONS
• Modi also interacted 
with the founders of 
startups from BIMSTEC 
nations, which include 
Bangladesh, Bhutan, 
India, Myanmar, Nepal, 
Sri Lanka and Thailand.
Source: indianexpress.com
SEED FUND 
• The new seed fund for 
startups comes after 
the Ministry of 
Electronics and 
Information Technology 
had earlier last year 
initiated a similar fund 
to identify startups and 
give them financial 
help. 
Source: indianexpress.com
FINANCIAL HELP
• In August, the ministry 
had launched a fund to 
identify 300 startups 
which would be 
provided seed fund of 
up to Rs 25 lakh and 
other facilities as well. 
Source: indianexpress.com
BUDGET
• A budget of Rs 95.03 
crore has been 
earmarked for the 
programme named 
‘Chunauti’, to be spent 
over a period of three 
years.
Source: business-standard.com
FIELDS OF STARTUP
• The IT Ministry’s 
programme seeks to 
award startups in the 
fields of edu-tech, agri-
tech, supply chain, 
logistics, and transport 
management, as well 
as medical healthcare, 
diagnostics, preventive 
and psychological care 
among other areas.
Source: indianexpress.com
AWARD STARTUPS 
• Apart from these seed 
funds, the ministry has 
over the last year also 
conducted several 
other competitions to 
award startups 
working in several 
areas, such as video-
conferencing, artificial 
intelligence among 
others.
Source: indianexpress.com