PIB | 23 Dec, 2022
The
Startup India Seed Fund Scheme (SISFS) has been approved for the period
of 4 years starting from 2021-22.
The Scheme aims to provide financial
assistance to startups for proof of concept, prototype development,
product trials, market entry and commercialization.
It is implemented
with effect from 1st April 2021 with a corpus of Rs. 945 crores.
As
per provisions under SISFS, the Government has constituted an Experts
Advisory Committee (EAC) which is responsible for the overall execution
and monitoring of the SISFS.
The EAC evaluates and selects incubators
for funds under the Scheme.
These incubators thereon select the startups
based on certain parameters outlined in Scheme guidelines. 126
incubators have been approved and these incubators have selected 656
startups under the Scheme as on 30th November 2022.
This
information was provided by Minister of State in the Ministry of
Commerce and Industry Som Parkash in reply to a parliamentary
question.
