Startup India Seed Fund scheme will back domestic biz ideas: Piyush Goyal

The minister said often good ideas are bought out by international venture capitalists at throwaway prices

Commerce and industry minister Piyush Goyal said on Monday that the government’s recently announced Seed Fund Scheme for new age firms will ensure adequate availability of funds, especially for startups with good ideas across various fields.

The minister also said that often good ideas are bought out by international venture capitalists at throwaway prices.

“I hope good ideas don’t get sold very cheap, particularly to foreign investors, who are able to identify a good idea...I hope this scheme supports our domestic entrepreneurs and their business ideas who often cannot take off due to the absence of critical funding at an