Startup India Seed Fund Scheme (SISFS) was recently launched.
Ministry: Ministry of Commerce and Industry
Key takeaways
Aim: To provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
An amount of 945 crore rupees corpus will be divided over the next 4 years for providing seed funding to eligible startups through eligible incubators across India.
The scheme is expected to support an estimated 3,600 startups through 300 incubators.
The SISFS will Secure seed funding, Inspire innovation, Support transformative ideas, Facilitate implementation, and Start startup revolution.
This Scheme will create a robust startup ecosystem, particularly in Tier 2 and Tier 3 towns of India, which are often deprived of adequate funding.
