Blitz Bureau
NEW DELHI The Union Government empowered more than 10,000 technology startups through various schemes in the last five years, said Jitin Prasada, Minister of State for Electronics & Information Technology, in a written reply to a question in Rajya Sabha.
The Centre disbursed a total funding of Rs 580 crore to startups through incubators including over 3,600 tech startups supported by the Ministry of Electronics and Information Technology (MeitY) with a total disbursed funding of Rs 212 crore.
Under the Startup India initiative, “the Government undertook flagship schemes such as Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS)”, Prasada said.
These schemes helped the startups to raise investments from angel investors or venture capitalists or seek loans.
Prasada said with the help of these schemes there are over 1.43 lakh startups operating in India that are recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).
Initiatives taken by MeitY include Technology Incubation and Development of Entrepreneurs (TIDE 2.0), Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH), Next Generation Incubation Scheme (NGIS), Domain specific Centres of Excellence (CoEs), and Theme-based Incubation Centre, Prasada said.
