Government has set up a mechanism known as SETU to support all aspects of start-up businesses and other self- employment activities.
- SETU (Self—Employment and Talent Utilisation) has been established under NITI Aayog is a Techno-Financial, Incubation and Facilitation Programme to support all aspects of start-up businesses, and other self-employment activities, particularly in technology-driven areas.
Other schemes to assist start-up businesses
India Aspiration Fund (IAF) – Government has also started IAF in August 2015 under the Small Industries Development Bank of India with a capital of Rs. 2,000 crore to give a boost to start—up ecosystem in the country.
- The objective of the IAF is to catalyze equity investment into start ups and MSMEs creating employment to lakhs of persons mostly educated youth over the next four to five years.
TIDE – Department of Electronics and Information Technology is implementing a scheme dubbed “Technology Incubation and Development of Entrepreneurs” (TIDE) under which 147 start ups have been supported at 25 TIDE centres established in premier institutes like IITs, NITs, IIMs etc.
National Policy for Skill Development and Entrepreneurs – It envisaged fostering entrepreneurship and grassroots innovation by providing support in terms of fiscal incentives, creation of grass root technology innovation hubs, legal support and market linkages.