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Start-up India Seed Fund Scheme
- Union commerce minister formally unveiled a Startup India Seed Fund Scheme (SISFS).
Details:
- The scheme aims to financially support early-stage startups across 300 incubation centres.
- Government looks to boost the ecosystem, providing the crucial capital for young companies.
- The scheme has a target corpus of Rs 945 crores.
- The Scheme will provide financial assistance to startups, and will be disbursed through selected incubators.
- The scheme would support around 3,600 entrepreneurs through 300 incubators.
- The scheme has been approved for a period of four years, starting 2021-22.
- The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DPIIT).
Source: The Hindu, Live Mint.