Government launched SETU to bolster startups: Minister

New Delhi, Dec 9 (IANS) Union Minister for Skill Development Rajiv Pratap Rudy on Wednesday said that the government of India had launched Self-Employment and Talent Utilisation (SETU) programme aimed at comprehensive support for startups and self-employment.

Speaking during question hour in parliament, Rudy said SETU was established under NITI (National Institution for Transforming India) Aayog with special focus on technology-driven areas.

He said the National Policy for Skill Development and Entrepreneurs aimed to foster entrepreneurship and innovation at the grass-roots level by providing fiscal incentives, market linkages, legal support and creation of grass-roots technology innovation hubs.

In August, the government launched India Aspiration Fund (IAF) with a capital of Rs.2,000 crore under Small Industries Development Bank of India to bolster startup ecosystem in India.

IAF aims to mobilise tens of thousands of crores of equity investment into startups and Micro, Small and Medium Enterprises for creating lakhs of jobs in the next four to five years, Rudy said.

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