Central Government has approved ‘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.