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STARTUP INDIA SEED FUND

Ministry of Commerce & Industry STARTUP INDIA SEED FUND Posted On: 15 DEC 2021 6:26PM by PIB Delhi The Government is implementing the Star

Ministry of Commerce & Industry

STARTUP INDIA SEED FUND

Posted On: 15 DEC 2021 6:26PM by PIB Delhi

The Government is implementing the Startup India Seed Fund Scheme (SISFS) to provide financial assistance to Startups through approved Incubators for proof of concept, prototype development, product trials, market entry, and commercialization. Under the scheme, no project based funding is provided.

Under the SISFS, Rs. 945 crore has been approved for period of 4 years starting from 2021-22. As of 10th December 2021, 48 incubators have been approved for financial assistance of Rs.192.25 crore for providing onward seed fund to select startups. 115 startups have been selected so far by incubators under the scheme.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri SomParkash, in a written reply in the Lok Sabha today.

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