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:
(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.