PR 24x7 has launched an initiative called ‘PRAGATI’ (PR 24x7 Resource Allocation for Growth, Advancement, and Transforming Ideas) with the aim of providing strong financial support to young innovators and startups across the country. Under this initiative, the organisation has decided to provide financial assistance ranging from ₹50,000 to ₹50 lakh to 100 unique early-stage startup ideas.
The primary objective of this initiative is to ensure that outstanding and innovative business ideas emerging from rural India and Tier-2 and Tier-3 cities do not fade away due to lack of financial resources.
At present, India has become the world’s third-largest startup ecosystem, with thousands of new businesses emerging every year. However, several reliable business reports and economic surveys also reveal a harsh reality. According to these reports, nearly 90% of startups launched in India shut down within their first five years. More than lack of market demand, the biggest reasons behind their failure are the unavailability of timely seed funding, the absence of the right investors, and lack of proper mentorship.
Additionally, over 80% of startup investments in India remain concentrated in major metro cities such as Bengaluru, Delhi-NCR, and Mumbai. As a result, promising ideas from talented youth in rural regions and smaller towns often fail due to financial constraints.
Announcing this important initiative, PR 24x7 Founder Dr Atul Malikram said,
"The real stars and future business leaders of India are living in our rural areas and small towns. These young people possess vision and determination; what they lack is the right beginning and financial support. The goal of this initiative is to bridge that gap. We do not want any unique idea to fall behind simply because someone lacks financial resources. We aim not only to provide funding from ₹50,000 to ₹50 lakh, but also to help give their dreams a new identity."
The startup selection process under this initiative has been designed to be simple and transparent so that rural youth do not have to deal with complicated paperwork.
The organisation believes that young people outside metro cities often possess exceptional ideas, but due to the lack of seed funding or initial investment at the right time, they are unable to move forward. Through this initiative, the organisation is searching for innovators who are waiting for their first funding opportunity.
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