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If we do not innovate, we will stagnate, urge Indians to keep innovating: PM Modi

Prime Minister Narendra Modi, while interacting with thousands of youngsters who have made it big in the start-up sector, said the government has created Rs 10,000 cr 'fund of funds' to help youngsters to innovate and ideate.

Reported by: India TV News Desk, New Delhi [ Updated: June 06, 2018 10:57 IST ]

PM Narendra Modi

Prime Minister Narendra Modi interacted with thousands of youngsters from the world of start-ups and innovation vio video conferencing on Wednesday. Describing India as a 'youthful nation', PM Modi said that today's youngsters are becoming job creators. "We are committed to harnessing of demographic dividend," PM Modi said.

PM Modi also underlined that adequate capital, courage and connecting with people are required for excelling in the startup sector.

HIGHLIGHTS:

10:55 am: If we do not innovate, we will stagnate, says PM Modi while interacting with youngsters who have made is big with their start-ups.

 

10:53 am: Our start-ups are growth engines. Today's big companies were start-ups at some point. I urge the people of India to keep innovating, says PM Modi

10:48 am: There is no dearth of innovators in the country. Let's share such success stories on social media with #InnovateIndia. This will inspire several others to focus on research and innovation: PM Modi

10:27 am: Handicrafts sector, art of tribal communities in Chhattisgarh is invaluable. I urge innovators in Chhattisgarh to think of ways to make these things more popular globally, through the world of start-ups. We should give a global platform to tribal communities of Chhattisgarh: PM Modi.

10:15 am: We have started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector: PM Modi.

10:06 am: We have created a team of facilitators who are providing essential legal help to start-up entrepreneurs, says PM Modi

10:00 am: The Government e-Marketplace (GeM) platform has been linked to Start-up India: PM Narendra Modi.

WATCH: What PM Modi told young entrepreneurs

09:55 am: Our government understand that youngsters may face shortage of funds for their start-ups. That is why a 'fund of funds' has been started by the government to facilitate more youngsters to innovate and ideate, says PM Modi.

09:50 am: Our patent requests were pending for years. Due to Start-up India, we got lot of valuable assistance from the Government. Due to start-up India we are getting the platform to interact with leading manufacturers, a start-up entrepreneur from Bengaluru tells PM Modi.

09:48 am: Start-ups are no longer only in big cities. Smaller towns and villages are emerging as vibrant start-up centres: PM Modi.

09:45 am: Adequate capital, courage and connecting with people are required for excelling in the start-up sector, says PM Modi.

09:40 am: There was a time when start-ups meant only digital and tech innovation. Things are changing now. We are seeing start-up entrepreneurs in different fields: PM Modi.

09:30 am: India is a youthful nation. Today's youngsters are becoming job creators. We are committed to harnessing of demographic dividend, says PM Modi.

India's startup ecosystem ranks third globally, with over 4,750 startups. Its key focus areas include e-commerce, fintech, healthtech and edutech.

The number of startups in India grew 12 per cent in 2016 and is expected to cross 10,000 by 2020.

The growth is fuelled by increased government support through startup schemes that eased registration and gave Indian startups priority in government-led projects and rising middle class which led to a boom in startups tapping into the consumer space.

 

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