New Delhi, Feb 28 (KNN) During the presentation of the Union budget 2015-15 today, the Finance Minister Shri Arun Jaitley announced the setting up of a Self-Employment and Talent Utilisation (SETU) mechanism.
 
A techno-financial, incubation and facilitation programme to support all aspects of start-up businesses, and other self employment activities, especially in technology driven areas, an amount of Rs 1000 crore is being set up initially in NITI Aayog for SETU.
 
Citing a spurt in interest in start-ups, experimenting in cutting edge technology, creating value out of ideas and initiatives, converting them into scalable enterprises and businesses as the focus of their strategy for engaging the youth and for inclusive and sustainable growth of the country, he said that concerns like a more liberal system of raising global capital, incubation facilities in the Centres of Excellence, funding for seed capital and growth, and ease of doing business etc need to be addressed to create lakhs of jobs and hundreds of billion dollars in value. (KNN/SS)