India AI Mission: Modi government will provide an amount of more than Rs 2,000 crore for the startup of India AI Mission. This scheme will start from the next financial year. Jitendra Vijay, Chief Executive Officer (CEO) of Startup Hub formed under the Ministry of Electronics and Information Technology, has said that the government is running big funding programs like Design Linked Incentive Scheme for semiconductor manufacturing.
The government has earmarked an amount of over Rs 2,000 crore to finance and support artificial intelligence (AI) related startups and the scheme will be launched in the next financial year. PTI language has given this news quoting a senior official.
Jitendra Vijay, Chief Executive Officer (CEO) of the Startup Hub formed under the Ministry of Electronics and Information Technology, said during the Startup Mahakumbh that the government is running a big funding program for the priority sector through schemes like Design-Linked Incentive Scheme for Semiconductor Manufacturing. Is.
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Speaking to PTI, Vijay said that under the approval given by the Union Cabinet to the India AI Mission, Rs 10,000 crore is being allocated to support the AI ecosystem in the country. Out of this, more than Rs 2,000 crore has been allocated for support and financing of AI related startups.
He said, we are paying more attention to making arrangements to implement these programs and schemes. It should be commissioned within the coming financial year. The Cabinet has recently approved the India AI Mission with an outlay of Rs 10,372 crore for AI development in the country.
Vijay said that Startup Hub is currently supporting and funding 143 incubators and centers of excellence across India. With this, all startups are being provided financing from concept level to development level through the Fund of Funds.