Startup India Seed Fund Scheme: Startup India is an important government initiative to promote startup ecosystem in India. Startup India Seed Fund Scheme is flagship scheme under Startup India initiative and also important for UPSC Prelims Exam 2023.
Startup India Seed Fund Scheme in News
Recently, the Minister of State for Commerce and Industry, Shri Som Parkash informed about the performance of the Startup India Seed Fund Scheme (SISFS).
Flagship Schemes under Startup India Initiative
The flagship schemes under Startup India initiative namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) extend support to startups at various stages of their business cycle.
- The startups thereafter, are able to raise investments from angel investors or venture capitalists or seek loans from commercial banks or financial institutions.
- Startup India initiative was launched on 16th January 2016 by the Government with an intent to-
- Build a strong ecosystem for nurturing innovation, startups and
- Encouraging private investments in startup ecosystem of the country.
Startup India Seed Fund Scheme
The Startup India Seed Fund Scheme (SISFS) is a flagship scheme under Startup India initiative. Startup India Seed Fund Scheme (SISFS) has been implemented with effect from 1st April 2021.
- Funding: The Startup India Seed Fund Scheme (SISFS) has been approved with a corpus of Rs. 945 crore for the period of 4 years starting from 2021-22.
- Performance: Under the Scheme, Rs. 477.25 crore has been approved to 133 incubators of which Rs. 211.63 crore has been disbursed as on 31st December 2022.
Implementation of Startup India Seed Fund Scheme
Under SISFS, as per provisions of the Scheme, 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 allocation of funds under the Scheme.
- The selected incubators thereon shortlist the startups based on certain parameters outlined in Scheme guidelines.
Startup India Seed Fund Scheme FAQs
1. What is Startup India Seed Fund Scheme?
Ans. The Startup India Seed Fund Scheme (SISFS) is a flagship scheme under Startup India initiative.
2. What are the flagship schemes under Startup India initiative?
Ans. The flagship schemes under Startup India initiative are namely, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS).
National Startup Advisory Council
