Fewer fintech startups incorporated in 2023, 72% decline since 2021, 55% YoY: Report
This does not reflect the data for startups with less than 10 employees or do not have a website or LinkedIn page.
Punjab Chief Minister (CM) Amarinder Singh on Tuesday announced his government’s decision to rope in banks and other financial institutions to provide soft loans to youth for launching startups.
Addressing a two-day convention and exhibition on Rural Entrepreneurship and Innovation, organised by the Industries Department in collaboration with PHD Chamber, the CM stressed the need to motivate youth to shift towards self-employment under the government’s startup programme.
Amarinder, while underlining the need for a mindset change among the youth, urged the PHD Chamber to become a knowledge partner with the government for programmes aimed at inculcating the spirit of entrepreneurship amongst youngsters.
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Startups not only facilitate gainful self-employment for individual youth but also help provide jobs to other youngsters, he pointed out.
Referring to the success of his government’s flagship ‘Ghar Ghar Rozgar’ programme, under which over 1.62 lakh jobs had been provided jobs so far, the Chief Minister reiterated his commitment to ensuring ample job opportunities for the unemployed youth of the state.
He cited the example of the Information Technology (IT) hub being developed at Mohali to enable the IT sector to emerge as a major employment source for the state’s talented and intelligent youngsters.
Pointing to the technological advancements being made the world over, he exhorted the youth to align themselves to new technologies to remain competitive.
Sharing a blueprint for his government’s skill development programme, the CM said the initiative was aimed at providing specialised skill training to students to semi-educated youngsters in nearly 200 ITIs across the state so as to enable them to earn their livelihood with dignity.
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