Startup India seed fund scheme to support domestic entrepreneurs, their business ideas: Piyush Goyal

NEW DELHI: Commerce and industry minister Piyush Goyal on Monday expressed hope that the Startup India seed fund scheme would support domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage.

The scheme was announced by Prime Minister Narendra Modi in January to support startups and help budding entrepreneurs pursue innovative ideas.

Goyal said good ideas oftenA get bought out by international venture capitalists at throwaway prices.

"The idea behind the scheme is to ensure adequate availability of funds, particularly to startups with good ideas in different fields. I do hope that this scheme will support our domestic entrepreneurs and their business ideas that often cannot take off due to the absence of critical capital at an early stage," Goyal said while launching the scheme.

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