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Startup India Seed Fund Scheme

The Startup India Seed Fund Scheme (SISFS) is an initiative by the Indian government to support early-stage startups with financial assistance for their growth and development. Launched in 2021 as part of the Startup India initiative, the scheme aims to address the funding challenges faced by startups at the initial stages and foster innovation in the country.

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Key Features of SISFS:

  1. Objective:

    • To provide financial support to startups for proof of concept, prototype development, product trials, market entry, and commercialization.

  2. Funding Support:

    • The scheme provides seed funding to startups through incubators, which serve as intermediaries. Startups can receive up to ₹50 lakh in financial assistance.

    • This funding may cover product development expenses, marketing costs, equipment, or operational expenses.

  3. Eligibility:

    • Startups: Must be incorporated not more than two years before applying. They should also have a viable business idea that requires seed funding.

    • Incubators: Should be recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), have been operational for at least two years, and possess a suitable infrastructure to support startups.

  4. Disbursement of Funds:

    • Funds are allocated to incubators, which then distribute them to eligible startups in different tranches based on the progress achieved in the project.

  5. Selection Criteria:

    • Startups are selected based on criteria such as the innovation level, scalability potential, and impact of the business idea. The scheme prioritizes industries like agriculture, healthcare, education, energy, and technology.

  6. Monitoring and Evaluation:

    • Regular monitoring of the funded startups ensures the proper utilization of the funds, and incubators provide mentorship and resources to help startups achieve their business goals.

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