{"id":102487,"date":"2021-04-20T16:08:32","date_gmt":"2021-04-20T10:38:32","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=102487"},"modified":"2021-04-21T09:23:00","modified_gmt":"2021-04-21T03:53:00","slug":"startup-india-seed-fund-scheme","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/startup-india-seed-fund-scheme\/","title":{"rendered":"&#8220;Startup India Seed Fund Scheme&#8221; launched"},"content":{"rendered":"\n<p><strong>What is the News?\u00a0<\/strong>Union Minister of Commerce &amp; Industry launches the Startup India Seed Fund Scheme (SISFS).<\/p>\n<h5><strong>About Startup India Seed Fund Scheme (SISFS):<\/strong><\/h5>\n<ul>\n<li>The scheme was announced during the <a href=\"https:\/\/forumias.com\/blog\/prarambh-startup-india-international-summit\/\" target=\"_blank\" rel=\"noopener\">Prarambh: the &#8216;Startup India International Summit\u2019<\/a>. Which marks the 5-year anniversary of the Startup India initiative.<\/li>\n<\/ul>\n<p><strong>Objective:<\/strong><\/p>\n<ul>\n<li>Firstly<strong>, Startup India Seed Fund Scheme(SISFS) <\/strong>aims to provide financial assistance to startups. Assistance is provided for proof of concept, prototype development, product trials, market entry, and commercialization.<\/li>\n<li>Secondly, it would help to grow startups to a beginner&#8217;s level. After that, startups will be able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.<\/li>\n<\/ul>\n<p><em><strong>Read Also:-<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/forumias.com\/blog\/niti-aayog-launches-aim-prime\/\">NITI Aayog launches &#8216;AIM-PRIME&#8217; to &#8230; &#8211;\u00a0<\/a><\/span><\/strong><\/em><\/p>\n<h5><strong>Implementation:<\/strong><\/h5>\n<ul>\n<li><strong>\u00a0<\/strong>The Department for Promotion of Industry and Internal Trade (DPIIT) constituted <strong>An Experts Advisory Committee(EAC).<\/strong> Which will be responsible for the overall execution and monitoring of the Startup India Seed Fund Scheme.<\/li>\n<\/ul>\n<p><strong>Funding:<\/strong><\/p>\n<ol>\n<li><span style=\"text-decoration: underline;\">Firstly, Eligible incubators<\/span> throughout India will <span style=\"text-decoration: underline;\">hand out funding<\/span> to eligible startups across India.<\/li>\n<li><span style=\"text-decoration: underline;\">Secondly, Grants of up to Rs 5 Crores<\/span> shall be provided to the eligible <span style=\"text-decoration: underline;\">incubators<\/span> selected by the EAC.<\/li>\n<li>Thirdly, the selected incubators shall provide grants of up to <span style=\"text-decoration: underline;\">Rs 20 lakhs for validation of Proof of Concept<\/span>, or prototype development, or product trials to startups.<\/li>\n<li>Finally, Startups will further receive <span style=\"text-decoration: underline;\">investments of up to Rs 50 lakhs for<\/span> market entry, commercialization, or scaling up through convertible debentures or debt-linked instruments.<\/li>\n<\/ol>\n<p><strong>Duration:<\/strong><\/p>\n<ul>\n<li>The scheme will have a corpus of Rs. 945 Crore. This will be divided over the next 4 years.<\/li>\n<\/ul>\n<h5><strong>Significance of the scheme:<\/strong><\/h5>\n<ul>\n<li><strong>The SISFS scheme will help startups in:<\/strong>\n<ul>\n<li><strong>S<\/strong>ecure seed funding<\/li>\n<li><strong>I<\/strong>nspire innovation<\/li>\n<li><strong>S<\/strong>upport transformative ideas<\/li>\n<li><strong>F<\/strong>acilitate implementation and<\/li>\n<li><strong>S<\/strong>tart startup revolution.<\/li>\n<\/ul>\n<\/li>\n<li><strong>The Scheme will also create a robust startup ecosystem <\/strong>particularly in Tier 2 and Tier 3 towns of India. These towns lack adequate funding facilities for startups.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleseDetailm.aspx?PRID=1712699\"><strong>PIB<\/strong><\/a><\/p>\n<hr \/>\n<blockquote class=\"wp-embedded-content\" data-secret=\"YO4HYfD3o2\"><p><a href=\"https:\/\/forumias.com\/blog\/first-meeting-of-national-startup-advisory-council\/\">&#8220;National Startup Advisory Council&#8221; &#8211; First Meeting Held<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;&#8220;National Startup Advisory Council&#8221; &#8211; First Meeting Held&#8221; &#8212; Free UPSC IAS Preparation For Aspirants\" src=\"https:\/\/forumias.com\/blog\/first-meeting-of-national-startup-advisory-council\/embed\/#?secret=nNXOxdiIEM#?secret=YO4HYfD3o2\" data-secret=\"YO4HYfD3o2\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News?\u00a0Union Minister of Commerce &amp; Industry launches the Startup India Seed Fund Scheme (SISFS). About Startup India Seed Fund Scheme (SISFS): The scheme was announced during the Prarambh: the &#8216;Startup India International Summit\u2019. Which marks the 5-year anniversary of the Startup India initiative. Objective: Firstly, Startup India Seed Fund Scheme(SISFS) aims to&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/startup-india-seed-fund-scheme\/\">Continue reading <span class=\"screen-reader-text\">&#8220;Startup India Seed Fund Scheme&#8221; launched<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1351,1310,956,9,959],"tags":[1302],"class_list":["post-102487","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-daily-news","category-daily-news-updates","category-schemes-and-programs","category-public","category-schemes","tag-eco_7","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/102487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=102487"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/102487\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=102487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=102487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=102487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}