PIB Summary- 9th September, 2022 | PIB (Press Information Bureau) Summary - UPSC PDF Download

US Startup SETU

Why in News?
The Union Minister of Commerce and Industry recently launched the US Startup SETU – Supporting Entrepreneurs in Transformation and Upskilling programme in the Bay Area of San Francisco, United States of America.

About  US Startup SETU

• SETU or Supporting Entrepreneurs in Transformation and Upskilling is an Indian government initiative under Ministry of Commerce & Industry.
• The initiative would connect start-ups in India to US-based investors and start-up ecosystem leaders with mentorship and assistance in various areas including funding, market access and commercialization.

Significance

• To remove geographic obstacles between India’s early-stage firms and US mentors who are willing to invest in entrepreneurship.
• The interaction will be supported by the mentorship site offered by Startup India’s MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth) programme, which is a one-stop shop for finding solutions for businesses in India. 
  • The portal was created with the intention of being reachable from any location in the nation to connect with a mentor.

Need

• More than half of well-funded firms and over 90% of start-ups generally experience early failure. Lack of company management experience is a major problem, and entrepreneurs need the correct advice for making decisions as well as moral support.
• The importance of receiving the correct advice at the right time has increased as India emerges as a top startup destination.
• In addition, the Indian government extends an invitation to established figures, seasoned professionals, and industry leaders to contribute to the country by enhancing the development of startups.

Quick Reaction Surface-to-Air Missile (QRSAM)

Why in News?
Defence Research and Development Organisation (DRDO) and Indian Army have successfully completed six flight-tests of Quick Reaction Surface to Air Missile (QRSAM) system from Integrated Test Range (ITR) Chandipur off the Odisha coast.

About Quick Reaction Surface-to-Air Missile (QRSAM)

• Quick Reaction Surface-to-Air Missile (QRSAM) is a missile developed by the Defence Research and Development Organisation (DRDO) in association with Bharat Electronics Limited and Bharat Dynamics Limited for the Indian Army.
• As a part of a replacement program for its obsolete Osa-AK and Kvadrat missile systems, Indian Army received a go ahead to initiate a global acquisition program for quick-reaction surface-to-air missiles from the Ministry of Defence in September 2007.
• This missile is an all-weather, all-terrain surface-to-air missile equipped with electronic counter measures against jamming by aircraft radars.
• QRSAM uses solid-fuel propellant and has a range of 25–30 km.