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He was addressing the Goa Start-Up and Innovation Day here. The two-day event, which ended today, was an interactive programme organised by the Goa government to provide a platform to new ventures to explore various opportunities.
State Information and Technology Minister Rohan Khaunte was also present on the occasion. “India officially has 20,000 start-ups across the country, but this is a grossly understated number. When I go around the country, I see there are several more start-ups,” he said, delivering the key-note address.
Recalling his recent visit to the Gujarat University, Prabhu said he found young boys aged 17-18 years who have incredible ideas. “These boys are ahead of others. They”are going to be successful businessmen of the future.” The Union minister said a phenomenon like “infant mortality”, which prevails among human beings (and refers to deaths of young children), also exists in start-ups and this has proved detrimental to their growth.
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“There has been 36 per cent growth in start-ups in the year 2017 which I am monitoring every day. It (the growth) will accelerate. Start-ups is going to be an extremely important activity. “Of the total 1197.25₹ billion invested in start-ups, 931.20₹ billion were in the last year,” he said.
Some of the employees of large companies have launched their own start-ups, Prabhu said. A total of 14433.54₹ million has been invested in employee-driven start-ups in India, he added.