Centre Approves ‘Startup India Seed Fund Scheme’
- The Central Government has approved ‘Start-up India Seed Fund Scheme’ (SISFS) on January 29, 2021, which aims to provide financial assistance to start-ups for the product trials, market-entry, proof of concept, prototype development and commercialization.
- Total Corpus: Rs 945 crore
- Validity: Five years (2021-25). The scheme will become operational from April 1, 2021.
- The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DIIT).
- The funds under the scheme will be disbursed through the selected incubators across the country.
- The startup will receive seed support only once.
Source: YourStory