New Delhi, Jan. 20 -- Indian PM Narendra Modi interacted with startups and addressed 'Prarambh: Startup India International Summit' on January 16. In the event, that marked 5th anniversary of StartUp India, he announced a 1000 crore Startup India seed fund. He said that the Startup India seed fund will enable new entrepreneurs to start and grew their startups. Further, with the fund of one thousand crore rupees, there will not be a shortage of seed money for startups, he said. The Seed Fund Scheme will provide financial assistance to startups for Proof of Concept, prototype development, product trials, market-entry, and commercialization.

He also said that the fund of funds scheme already helps startups to raise equity capital. Further, ...