Updated: Jun 19
Application starts from 1st July 2021
About Startup India:
The Startup India initiative of the Government of India envisages building a robust Start-up ecosystem in the country for nurturing innovation and providing opportunities to budding entrepreneurs.
An Action Plan with 19 action points for the Startup India initiative was unveiled by the Hon’ble Prime Minister on January 16, 2016. This Action Plan laid down a roadmap for the creation of a conducive ecosystem for Startups in India. Subsequently, many activities have been undertaken to encourage Startups. Startup India Seed Fund Scheme (SISFS) is one such scheme provides financial assistance to early-stage startups.
About the Startup India Seed Fund Scheme:
Startup India Seed Fund Scheme (SISFS) aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. This would enable these startups to graduate to a level where they will be able to raise investments from angel investors or venture capitalists, or seek loans from commercial banks or financial institutions. The Seed Fund will be disbursed to eligible startups through eligible incubators across India. Importance of the scheme:
The ecosystem of Indian startups suffers from a lack of capital in the development phase of seed and "Proof of Concept".
The capital required at this stage often presents a hit or miss situation for startups with good business ideas.
Many innovative business ideas fail to take off due to the lack of this critical capital required at an early stage for proof of concept, prototype development, product testing, market entry and commercialization.
The seed money offered to such promising cases can have a multiplier effect in validating the business ideas of many startups, leading to job creation.
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