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Q41. Which of the following statements about Start up Sangam initiative is/are correct?

1. It is an initiative of Ministry of Commerce and Industry

2. 10 oil and gas PSUs have setup Rs. 320-crore venture capital fund to encourage start-ups based on innovative ideas in the energy sector

Select the correct code:


A

(a) Only 1

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B

(b) Only 2

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C

(c) Both 1 and 2

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D

(d) None of the above

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Solution

The correct option is B

(b) Only 2


The Petroleum ministry along with public sector oil companies has launched ‘Start-up Sangam’, a program with the objective of funding startups in this high-tech sector.

With a view to bringing in innovations and disruptions in the technology-heavy oil and gas industry, India’s state-run companies pledged to support more than 30 start-ups who will be funded for the next three years through a corpus of Rs 320 crore under this initiative.


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