‘Funds of funds’ to help youths start their own companies

Source: The Hitavada      Date: 07 Jun 2018 09:55:11


Staff Reporter,

Government has created ‘fund of funds’ of Rs 10,000 crore to help youths to innovate and go for their own start ups and become entrepreneurs, said Prime Minister Narendra Modi on Wednesday while interacting youths with the help of Video Conferening.

Describing India as a nation of youths, Modi stated that Indian youths are becoming job creators. Government is committed to harnessing of demographic dividend.

Modi interacted with thousands of youngsters from the world of start-ups and innovation via video conferencing. The video conferencing was held at the office of district collector at the hall of National Information centre. 40 beneficiaries from Nagpur district under startsup India and Atal innovation mission attended the session.

Prime Minister also underlined that adequate capital, courage and connecting with people are required for excelling in the startup sector.
“If we do not innovate, we will stagnate. Our start-ups are growth engines. Today's big companies were start-ups at some point. I urge the people of India to keep innovating,” Modi stated.

Government has started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector. Government also created a team of facilitators who are providing essential legal help to start-up entrepreneurs. Our government understand that youngsters may face shortage of funds for their start-ups. That is why a ‘fund of funds’ has been started by the government to facilitate more youngsters to innovate and ideate, Modi said.

E Ravindran, Commissioner of Skill Development and Entrepreneurship Department also discussed with the youths. Technical Director of National Information Centre Dhananjay Keskar, Deputy Director of Skill Development and Entrepreneurship Department, Mahesh Deshpande; Assistant Director Pravin Khandare, officer P.B Jadhav were also present on this occasion.