Monday, June 14, 2021

Centre launches Startup India Seed Fund Scheme to create a robust startup ecosystem in the country

Commerce and Industry Minister Piyush Goyal has launched the Startup India Seed Fund Scheme (SISFS). The Fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. An amount of 945 crore rupees corpus 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, Mr 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. The Minister said that he would like to especially encourage innovators from rural areas to come forward and benefit from this scheme.

- Advertisement -
Latest news

Over 25 crore 48 lakh COVID vaccine doses administered in India so far

India has administered over 25 crore 48 lakh COVID vaccine doses to the beneficiaries so far. The Health and Family Welfare Ministry has said,...

Country’s Covid-19 recovery rate reaches to 95.43 per cent

India is registering a significant decline in active caseload and fresh cases of Coronavirus. The Health and Family Welfare Ministry said, the active...

PM Modi greets people on the auspicious occasion of Raja Parba

Prime Minister Narendra Modi has greeted people on the auspicious occasion of Raja Parba. In a tweet today, Mr. Modi has prayed for the...

Naftali Bennett sworn-in as new Prime Minister of Israel

Naftali Bennett was sworn-in as the new Prime Minister of Israel last night, after winning a confidence vote with the narrowest of margins, just...
Related news

Over 25 crore 48 lakh COVID vaccine doses administered in India so far

India has administered over 25 crore 48 lakh COVID vaccine doses to the beneficiaries so far. The Health and Family Welfare Ministry has said,...

Country’s Covid-19 recovery rate reaches to 95.43 per cent

India is registering a significant decline in active caseload and fresh cases of Coronavirus. The Health and Family Welfare Ministry said, the active...

PM Modi greets people on the auspicious occasion of Raja Parba

Prime Minister Narendra Modi has greeted people on the auspicious occasion of Raja Parba. In a tweet today, Mr. Modi has prayed for the...

Naftali Bennett sworn-in as new Prime Minister of Israel

Naftali Bennett was sworn-in as the new Prime Minister of Israel last night, after winning a confidence vote with the narrowest of margins, just...