Economy > Government policies
21 April 2021
Union minister for commerce and industry Piyush Goyal on Tuesday launched the Startup India Seed Fund Scheme (SISFS) with a corpus . of Rs945 crore.
The fund will provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialisation.
The corpus fund of Rs945 crore 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.
Speaking on the occasion, Goyal said that the SISFS will secure seed funding, inspire innovation, support transformative ideas, facilitate implementation, and start startup revolution. He said that 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.
India s start-up ecosystem will continue to grow & thrive amid the pandemic: Arun Pandey
adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
Indian govt launches $126m seed fund scheme to support early-stage startups
dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.