Don't Get Sold Cheap: Piyush Goyal, Rs.945 crore Startup India seed fund launched.

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Commerce and Industry Minister Piyush Goyal on Monday said startups don't get sold cheaply, particularly to foreign investors.

And seeming this Piyush Goyal launched Startup India seed fund scheme in which government will support India's domestic entrepreneurs and business ideas which often can't take off due to the absence of critical capital at a very early stage.

The ₹945 crores in aims to provide financial assistance to startups for proof-of-concept, prototype development product, market entry and commercialization and has been approved for four years starting 1st, April 2021.

"Don't get sold very cheaply particularly to foreign investors are savvy investors who are able to identify a good idea and able to buy out at an early stage of funding required." Goyal said, adding that a very good idea of an gets bordered by the national venture capitalist at throw away prices.

Piyush goyal also addresses that this scheme will support a domestic entrepreneurs and even their ideas even with absence of critical capital at early stage. Goyal also said starter will create a robust startup ecosystem particularly in tier 2 and 3 towns which are often deprived of adequate funding.

Sources: The Economics Times