CURRENT AFFAIRS

Detailed explanation-1: -Centre to launch the Digital India Innovation Fund for catalyzing deep tech start-ups. Minister of State for Electronics and IT, Rajeev Chandrasekhar on 30th December 2022 said that the central government is going to launch a Digital India Innovation Fund that will support deep-tech startups.

Detailed explanation-2: -Deep tech, or deep technology, refers to those startups whose business model is based on high tech innovation in engineering, or significant scientific advances. The term deep tech is intended to set it aside from its opposite, “shallow tech”.

Detailed explanation-3: -Startup India is a flagship initiative of the Government of India, intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.

Detailed explanation-4: -Department for Promotion of Industry and Internal Trade (DPIIT) has created Startup India Seed Fund Scheme (SISFS) with an outlay of Rs. 945 CR, which aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market-entry, and commercialization.

Detailed explanation-5: -Government has launched the Digital India programme with the vision of transforming India into a digitally empowered society and a knowledge-based economy, by ensuring digital access, digital inclusion, digital empowerment and bridging the digital divide.