Daily Current Affairs Article 18th January 2021: Prime Minister Narendra Modi announced a seed fund worth Rs 1,000 crore for startups to provide them with initial capital to start and grow their business, and said that guarantees would be given to help them raise debt capital going ahead.
This was announced during the ‘Prarambh: Startup India International Summit’.
This will help in starting and growing new startups.
Fund of funds scheme is already helping startups raising equity capital. The Government will also help the startups in raising capital through guarantees.
