In April 2021, the federal government launched the Startup India Seed Fund Scheme (SISFS) with a corpus of Rs 945 crore.
The corpus is split over the following 4 years (until 2025) for offering seed funding to eligible startups via eligible incubators throughout India
The authorities has allotted Rs 611 crore to incubators and out of that, Rs 61 crore was launched to startups below the seed fund scheme up to now, an official mentioned on Tuesday. In April 2021, the federal government launched the Startup India Seed Fund Scheme (SISFS) with a corpus of Rs 945 crore.
The corpus is split over the following 4 years (until 2025) for offering seed funding to eligible startups via eligible incubators throughout India. The fund goals to present monetary help to startups for proof of idea, prototype improvement, product trials, market entry, and commercialisation.
The scheme has accomplished two years and it’s serving to in selling innovation, joint secretary within the Department for Promotion of Industry and Internal Trade (DPIIT) Manmeet Nanda advised reporters right here.
She mentioned that up to now 165 incubators have been chosen below the scheme and Rs 611 crore has been accredited for them. “Over 1,000 startups are benefitted from the scheme up to now,” she mentioned, including if required the division would search extra funds.
“We will be able to completely utilise the Rs 945 crore fund,” she mentioned.
She additionally mentioned that the DPIIT is enterprise a third-party evaluation of ‘Startup India Seed Fund Scheme’ to see its affect on the bottom.
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