Government Rolls Out INR 945 Crore For A Start-up Fund

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They shall be offered grants of up to ₹20 lakh for prototype development, validation of proof of concept, or product trials. Furthermore, investments of up to ₹50 lakh shall be provided to startups for start-up commercialization, market-entry, or scaling up through debt-linked instruments.

The government of India has unveiled a Start-up India Seed Fund Scheme (SISFS) to financially support early-stage start-ups across 300 incubation centres. The fund will help for proof of concept, product trials, prototype development, making the products market-ready. The announcement was made 3 months after the government declared its intention to roll out the same. The fund will benefit around 3,600 start-ups particularly in tier-2 and tier-3 cities.

Grants of up to ₹5 crores shall be provided to incubators declared eligible by an expert committee. They shall be offered grants of up to ₹20 lakh for prototype development, validation of proof of concept, or product trials. Furthermore, investments of up to ₹50 lakh shall be provided to startups for start-up commercialization, market-entry,  or scaling up through debt-linked instruments.

In January 2021, at the Startup India’s international summit, ‘Prarambh’, PM declared he is trying to create a start-up system in India, which will be based on the mantra ‘of the youth, by the youth, for the youth’.



Categories: Government/Sovereign, Seed Funds

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