New Delhi : Prime Minister Narendra Modi on Wednesday said the Rs 10,000 crore fund of funds created by the government will ensure funding to the tune of Rs 1 lakh crore for startups, which are now mushrooming in smaller towns and also in unconventional segments like agriculture and social sectors.
He said the Rs 10,000 crore fund has helped venture capital funds provide assistance of Rs 7,000 crore to startups. This fund, he said, in the long run will ensure funding of Rs 1 lakh crore to startups in the country.
The government too has created an ecosystem, he said. Starting from availability of funds, the government has worked on areas like setting up of tinkering labs, incubation centres, removing regulatory hurdles, providing tax incentives and support in the field of legal issues and intellectual property rights.
