Finance Ministry allocates Rs 1,000 crore for start-ups

As an initial step, the government will establish a Self Employment and Talent Acquisition (SETA), to incubate the start-ups.

Acknowledging the dominance of the Indian talent in the field of product innovation and R&D, the finance minister said that all efforts would be taken, and initiatives provided to the start-ups to develop cutting edge technology.

"The aim is to energize our youth, sustain growth and provide employment to more than 1 lakh people. We will make the environment conducive for CoEs and R&D," Jaitley added.