✔️ Fact-Checked News
Welcome to DailyNews9.com – Your trusted source for real-time updates.
In a strategic move to advance technological innovation, the government has announced the allocation of Rs 10,000 crore to support new-age technology startups, with a significant focus on sectors such as artificial intelligence (AI) and machine building. The initiative aims to empower entrepreneurs and accelerate growth in emerging technologies.
The Economic Times reports that the majority of this substantial fund will be directed towards startups specializing in AI and other new-age technological solutions. This decision reflects the government’s commitment to positioning India as a leader in the global tech landscape.
The funds are part of a broader strategy to enhance the startup ecosystem across the country, including regions beyond the major metropolitan areas. According to ET Now, entrepreneurs in Tier 2 and Tier 3 cities are playing a pivotal role in driving the next wave of innovation, significantly contributing to the country’s economic growth.
Meanwhile, News24 Online emphasizes the potential impact of the fund allocation on the tech industry, noting that it could fuel a surge in AI and other technological advancements. The fund, known as the Fund of Funds Scheme (FFS), will be a crucial vehicle for fostering innovation and growth within these dynamic sectors.
Odisha TV highlights the initiative’s focus on boosting machine building, which is expected to synergize with advancements in AI, ultimately enhancing industrial performance and competitiveness.
BW Disrupt also underscores the importance of AI in this strategic funding, pointing out that the government aims to cultivate a robust environment for AI development and implementation. This allocation is anticipated to attract additional investment and talent into the country’s tech industry.
As the government channels this significant investment into new-age technologies, it aims to fortify India’s standing as a global tech innovation hub, stimulate job creation, and drive sustainable economic development across diverse regions.
Partnered with G N G Group for quality reporting.
