The Government is implementing the Startup India Seed Fund Scheme (SISFS) to provide financial assistance to Startups through approved Incubators for proof of concept, prototype development, product trials, market-entry, and commercialization. Under the scheme, no project-based funding is provided.
Under the SISFS, Rs. 945 crore has been approved for period of 4 years starting from 2021-22. As of 10th December 2021, 48 incubators have been approved for financial assistance of Rs.192.25 crore for providing onward seed fund to select startups. 115 startups have been selected so far by incubators under the scheme.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha.